Americans Are Not Holding Back After Learning About Trump’s Newest Tariff Announcement

While some companies have already made forward movement in planning to build new facilities in the US, such as Roche and Novartis from Switzerland, to evade these tariffs, Alex Schriver, senior vice president for Pharmaceutical Research and Manufacturers of America (PhRMA), said in a statement that he’s worried about how this will impact the industry. “Every dollar spent on tariffs is a dollar that cannot be invested in American manufacturing or the development of future treatments and cures,” he said. “Medicines have historically been exempt from tariffs because they raise costs and could lead to shortages.”

It has also been reported in a PhRMA statement that it can take 5-10 years to even set up new pharmaceutical manufacturing, which is a longer length of time than what the Trump administration has suggested, which was 12-18 months.