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Trump’s Pharma Tariffs Boost US Drug Stocks as Europe’s and Asia’s Drop

Over the past several months, drugmakers have committed to billions of dollars in new U.S. manufacturing.
Trump’s Pharma Tariffs Boost US Drug Stocks as Europe’s and Asia’s Drop
An Eli Lilly pharmaceutical manufacturing plant in Branchburg, N.J., on March 5, 2021. Mike Segar/Reuters
Andrew Moran
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Shares of major U.S. drugmakers rose while foreign stocks slumped after President Donald Trump unveiled new pharmaceutical tariffs.

In a Sept. 25 Truth Social post, the president announced he would impose a 100 percent tariff on “any branded or patented pharmaceutical product” entering the United States next month.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."