Trump: Tariffs on imported pharmaceuticals coming ‘shortly’

President Donald Trump said on Tuesday tariffs on imported pharmaceuticals will be coming "shortly."

Speaking at a National Republican Congressional Committee event, Trump said the companies that manufacture pharmaceuticals will "leave other places" and open up "their plants all over the place in our country."

The president did not specify what percentage he planned to impose.

U.S. President Donald Trump speaks during the National Republican Congressional Committee (NRCC) dinner at the National Building Museum on April 08, 2025 in Washington, DC. (Photo by Anna Moneymaker/Getty Images)

Which tariffs go into effect on Wednesday? 

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Trump announced his latest — and most sweeping — round of tariffs on April 2, which he dubbed "Liberation Day," as part of his "reciprocal" trade plan.

Trump declared that the U.S. would now tax nearly all of America’s trading partners at a minimum of 10% — and impose steeper rates for countries that he says run trade surpluses with the U.S.

The 10% baseline already went into effect Saturday. And when the clock strikes midnight Wednesday, Trump’s higher import tax rates on dozens of countries and territories will take hold — that is, unless anything changes in the eleventh hour.

China hit with 104% levies

On Tuesday, White House press secretary Karoline Leavitt confirmed that Trump’s threats of even higher tariffs on China would become a reality after midnight, when imports from China are taxed a stunning 104% rate.

"It was a mistake for China to retaliate," Leavitt told reporters. "When America is punched, he punches back harder. That’s why there will be 104% tariffs going into effect tonight at midnight."

She added that Trump believes China "wants to make a deal" but doesn't know how to get that started.

The increase comes after China imposed a 34% retaliatory tariff on all U.S. imports beginning next week.