President Trump is expected to sign an executive order that will boost domestic drug production in the U.S., according to the Washington Post. The order builds on Trump’s goal of returning production and manufacturing to the U.S.
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Trump Seeks to Boost Domestic Drug Production Amid Potential Imported Drug Tariffs
Last month, Trump stated that he would soon enact a “major tariff on pharmaceuticals” that are imported to the U.S. in order to promote domestic drug production. As of now, pharmaceuticals are exempt from the administration’s reciprocal tariffs.
Most major pharmaceutical stocks were already red on the day and have not reacted significantly to the news.
