According to CCTV News, on April 8th local time, US President Trump announced in a speech that the United States will impose tariffs on pharmaceuticals.

Trump stated that the United States does not produce its own medications and other health-improving products. The prices paid for drugs in the U.S. are often many times higher than those in countries that produce pharmaceuticals. Trump believes that once tariffs are imposed on medications, pharmaceutical companies will establish factories in the U.S. because it is the "largest market."

European pharmaceutical companies warned at a meeting with the President of the European Commission on the 8th local time that US tariffs will accelerate the trend of the industry moving from Europe to the US. EFPIA, a pharmaceutical industry trade lobbying group whose members include European pharmaceutical giants Bayer, Novartis, and Novo Nordisk, said that it has called on the EU President to push for "rapid and fundamental action" to mitigate the risk of an exodus to the US.