Trump Tariffs Spare Drugmakers But Threaten Diabetes Device Industry

President Donald Trump announced tougher-than-anticipated tariffs on Wednesday, but there are some notable exemptions.

Trump excluded pharmaceuticals from the new tariffs, likely a relief for the industry under pressure following his prior comments suggesting a 25% tariff on pharmaceutical imports. 

“The United States can no longer produce enough antibiotics to treat our sick,” Trump said Wednesday. “We have a tremendous problem, we have to go to foreign countries to treat our sick. If anything ever happened from a war standpoint, we wouldn’t be able to do it.”

The biopharma industry has historically been shielded from tariffs, including during Trump's first term. Investors had feared global tariffs could disrupt the sector, given its significant manufacturing presence in Europe. The Morningstar report says that with the U.S. importing approximately $200 billion in pharmaceuticals in ...