These tariffs were 15 per cent on most products – with important exclusions such as pharma. Trump’s new 15 per cent global tariff – based on a 1974 Act that allows them to stay in place for 150 days – is due to come into place on Tuesday. Pharma is one of a small number of sectors excluded from the new global tariffs. But the exclusion of pharma from the new global tariffs shows the sensitivity about drug prices in the US. Some will favour a strong reaction if the new US tariffs go beyond what was agreed with the EU.

Source: The Irish Times February 23, 2026 15:12 UTC