Trump Will Soon Announce Pharmaceutical Tax Rates, Ready to Negotiate

President Donald Trump said on Friday that he would announce the tax on imported pharmaceuticals but refused to say whether lifesaving drugs would be exempt from the tax or disclose the specific tax rate. He is also open to negotiations for potential tax cuts planned for next week, but he does not expect agreements before April 2. Trump told reporters, "I am definitely open to that, if we can do something, we can get something for that." However, he warned that any agreements would likely occur "possibly after" the tariffs take effect, while also adding that the United States has "been taken advantage of for 40 years, maybe even longer." Trump plans to announce his reciprocal tariff program on Wednesday. He stated that the program will include strong measures to align with the trade barriers of other countries and boost U.S. production. The specific details are still unclear, with conflicting statements about whether the new tax will replace or supplement existing taxes on targeted goods. This week, he announced a 25 percent tax on cars in addition to any specific taxes of the country. The president suggested that pharmaceutical imports would be next. "There will be a certain amount enough to bring medicines and pharmaceutical companies to bring their products into our country. We never want to have to depend on other countries for that, as we did during the Covid period," Trump said.