Last week, U.S. President Donald Trump disclosed plans for a “major tariff” on foreign pharmaceuticals.
BofA Securities analyst said if the Trump administration plans to impose tariffs on the pharmaceutical industry, it would likely do so through a “Section 232 investigation” under the Trade Expansion Act of 1962 to determine whether importing certain goods threatens national security.
The U.S. Department of Commerce has launched an investigation into the potential national security risks posed by the country’s reliance on imported pharmaceuticals and key drug ingredients.
The probe, initiated under Section 232 of the Trade Expansion Act, will examine the effects of these imports on the nation’s ability to produce essential medicines and respond to public health emergencies.
Announced on April 1, 2025, the investigation will evaluate a wide scope of pharmaceutical imports.
Also Read: Pharma Industry Faces Jitters As Trump Hints At Historic Tariffs, BofA Outlines Probable Timeline
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