US President Donald Trump announced on Tuesday that he would impose tariffs on pharmaceutical companies that do not make an agreement with the US and do not reduce drug prices, the AP reported, quoted by News.bg.
In a statement to reporters at the White House, Trump said that his administration would hold talks with all pharmaceutical companies next week in an attempt to reach new agreements.
“If we don't make an agreement, we will impose additional tariffs of 5%, 6%, 7%, 8%, whatever the difference is“, he said. However, he added that he expected "everyone to do well."
Trump's comments followed his announcement that Pfizer would invest $70 billion in the United States and lower the prices of its most widely used drugs.
Speaking from the Oval Office, the president said the deal would ensure the United States would pay "the lowest price" globally under the most-favoured-nation system.
He stressed that American consumers have long subsidised the costs of research and development abroad, describing the new plan as a "crucial step forward."
Finally, Trump added that the discounts would range from 50% to 100%, with some drugs available for free and purchases made through a new government website. “Pfizer is one of the biggest and best companies in the world,” he said.
Minutes after the announcement, Pfizer shares were trading 3.5% higher, selling at $24.70.