The release of the U.S. government’s review into pharmaceutical imports and the potential introduction of new sector-specific tariffs is likely still several weeks away, according to four official and industry sources.
The investigation, launched in April under Section 232 of the Trade Expansion Act of 1962, examines whether reliance on foreign drug production poses risks to U.S. national security. The review covers a wide range of products, from finished prescription medicines to active pharmaceutical ingredients (APIs) and raw materials.
Commerce Secretary Howard Lutnick had initially expected the review to conclude between mid-May and mid-June, with a tariff plan to follow. However, the timeline has been extended several times. Lutnick most recently indicated that completion would occur by late July, later adjusting that estimate to “two more weeks.”
President Donald Trump has stated that any tariffs introduced could begin at a modest level and increase over time, aiming to give pharmaceutical companies an opportunity to expand U.S.-based manufacturing capacity.
Officials familiar with the process noted that while the administration has reached bilateral agreements with the United Kingdom, Japan, South Korea, and the European Union—offering more favorable terms for their pharmaceutical exports—sector-wide tariffs remain under consideration.
Two industry sources and a European government official indicated that the announcement is unlikely to occur before the end of August, though the timing could shift based on other priorities. Sources also said the administration is expected to release the findings of a separate semiconductor sector investigation before the pharmaceutical review.
While the probe is ongoing, the pharmaceutical sector has been exempt from broader tariff measures already implemented under Section 232. The final Commerce Department report will determine whether additional import restrictions or duties will be applied to safeguard U.S. supply security.
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