Pfizer’s Drug Price Cuts Yield Three-Year Trump Tariff Reprieve
Pfizer Inc. has reached an agreement with the Trump administration to avoid tariffs on the pharmaceutical industry. The deal involves Pfizer slashing the prices of some of its drugs by up to 85% and selling them directly to the American public. This move is expected to be followed by other major drugmakers. The agreement comes after President Donald Trump had long threatened to impose tariffs on the pharmaceutical industry. The price cuts and direct-to-consumer sales are seen as Pfizer's strategy to stave off the potential tariffs, which could have had a significant impact on the industry. The deal represents a compromise between the Trump administration's efforts to lower drug prices and the pharmaceutical industry's concerns about tariffs.
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