Pharma sector jolted by unpredictable US tariffs policy

In July, President Trump threatened a 200% tariff on pharmaceutical imports similar to the blanket tariffs the US imposed on steel and aluminium. That has yet to arrive, but its looming threat and the uncertainty created by tariffs’ erratic implementation are already having an impact on trade and investment in the sector. Numerous firms have announced new US investments, but there are also signs that many are taking a wait and see approach before making investment decisions, having initially tried to front load exports to the US.