Pfizer CEO Warns Against Proposed U.S. Pharma Tariffs

The Trump administration is considering imposing a 25% tariff on pharmaceutical imports, a move that has raised concerns among both U.K. officials and pharmaceutical industry leaders. British trade experts warn that such tariffs would seriously impact the U.K.’s pharmaceutical exports to the U.S., threatening longstanding economic ties and potentially harming small and medium-sized producers. Pfizer CEO Albert Bourla acknowledged the U.S. government's national security concerns regarding pharmaceutical supply chains, especially in light of China's rapid biotech advancements, but argued that tariffs are not the right solution. Instead, Bourla advocated for policy certainty and further tax incentives to encourage domestic investments in research and manufacturing, noting that previous tax cuts under Trump led to significant U.S. investment. The potential tariffs are also part of broader U.S.-U.K. trade negotiations, with Washington pressing for the U.K. to lower tariffs on American goods and relax agricultural import restrictions. Industry leaders and experts assert that the proposed measures could disrupt global pharmaceutical supply chains and negatively impact both economies.