US President Donald Trump has announced that he plans to place tariffs on pharmaceuticals entering the country at a Cabinet meeting.
This follows Trump's decision to place reciprocal tariffs on any countries who have duties allocated to American goods.
When discussing the introduction of tariffs to both cars and pharmaceuticals, he noted that the Trump Administration would be "announcing some of these things in the very near future — not the long future."
It is currently unclear if Trump will introduce tariffs on pharmaceutical goods on April 2, when the reciprocal tariffs are scheduled to take hold.
When asked for further clarification, he initially stated that "it's going to be everything," meaning tariffs would be introduced on this key date.
However, he then proceeded to state that "not all tariffs are included that day," meaning industry members will have to wait to gain clarity on this topic.
According to CNBC, Trump also hinted that auto tariffs may be announced before April 2, but an article from the Wall Street Journal notes that the White House is unlikely to impose tariffs on this date.
When asked if specific sector tariffs will be enforced on April 2, an anonymous White House representative stated that they "may happen or may not."