Pharmaceutical tariffs still in play despite Supreme Court ruling

 

• Ongoing threats from President Trump to enact tariffs on pharmaceutical products imported into the United States could still become reality despite Friday's Supreme Court ruling striking down his authority to impose so-called "reciprocal" tariffs.
• That's because the pharma tariffs were enacted as part of Section 232 of the Trade Expansion Act of 1962, which is not impacted by the High Court's decision. Section 232 covers products that potentially threaten national security. 
• Trump claimed authority for the "reciprocal" tariffs under the International Emergency Economic Powers Act of 1977. The Supreme Court ruled the president does not have that ability.
• However, many pharmaceutical companies don't have to worry about the tariff threat thanks to deals negotiated with the White House through the "most favored nation" policy. In exchange for a three-year pass on tariffs, these pharmas are providing some of their medicines at a discounted rate through the TrumpRx website and boosting manufacturing in the US.
• These companies include Pfizer (PFE), Eli Lilly (LLY), Novo Nordisk (NVO), Merck (MRK), Bristol Myers Squibb (BMY), Amgen (AMGN), Gilead Sciences (GILD), GSK (GSK), Novartis (NVS), Sanofi (SNY), and Roche (RHHBY)

https://www.msn.com/en-us/money/markets/pharmaceutical-tariffs-still-in-play-despite-supreme-court-ruling/ar-AA1WL4gy