Pharma’s Tariff Reprieve Will Be Temporary as More Levies Loom

The drug industry won a reprieve from sweeping tariffs announced by President Donald Trumpon Wednesday, though it could be short-lived as the White House moves forward with plans for future levies on pharmaceutical imports.

The president is looking into launching a so-called 232 investigation into pharmaceuticals and other sectors, including semiconductors and potentially critical minerals, according to a senior administration official. That action could lead to tariffs under the Trade Expansion Act, as it already has for cars and aluminum.

Trump imposed reciprocal tariffs of at least 10% on all exporters to the US and slapped additional duties on ...