After months of mixed messaging from the White House, the pharmaceutical industry has gained more clarity on the second Trump administration’s import tariff policy for drugs. While many of the industry’s biggest firms have navigated the trade threat through investment pledges and drug pricing deals, the current landscape remains murkier for small- and mid-sized drugmakers.

In this episode of “The Top Line,” Fierce Pharma’s Fraiser Kansteiner sits down with Chris Young, a principal in KPMG’s trade and customs practice, to discuss the pharma tariff landscape following President Donald Trump’s announcement in early April of a potential 100% tariff on imported drugs. Young explains how the policy could affect smaller drugmakers that haven’t inked high-profile pricing deals with the government and shares best practices for navigating the rapidly evolving U.S. trade environment.

To learn more about the topics in this episode: 

• An update on the pharma industry’s reshoring effort
• Trump eyes 100% tariff rate for companies that have not struck MFN deals: Bloomberg
• Trump's tariff threats, measured by manufacturing
• UK signs off on US pharma deal, ensuring tariff reprieve as Britain aims to reattract investments