On Monday, the Trump administration opened a probe into pharmaceutical imports, and the president pledged that pharma tariffs would come in the “not-too-distant future.”
“We don’t make our own drugs anymore,” Trump said in a media appearance, as my colleague Brett LoGiurato documented here. “All I have to do is impose a tariff. The higher the tariff, the faster they come.”
Trump has repeatedly singled out Europe — Ireland, in particular — as a target for tariffs.
But recent reports suggest that if tariffs do come, Ireland and its US customers won’t be completely caught off guard. Reuters reports that Ireland has been rushing to ship pharmaceuticals and medical products to the US ahead of tariffs, including by air.
Irish pharma exports to the US surged by more than 450% from the previous year in February from 1.9 billion euros to 10.5 billion euros, Ireland’s Central Statistics Office said. Exports also spiked by 130% in January to 9.4 billion euros, suggesting US drugmakers may be stockpiling medicines.
Read more here.
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