Pharma Stocks Tumble 10% Amid Renewed Tariff Fears

New Delhi: Shares of Pharmaceutical companies on Friday tumbled up to 10 per cent amid reports that the Trump Administration will soon announce tariffs on pharma imports and emphasised that the measures will be ‘unprecedented’.

According to reports, President Trump has said that tariffs on pharmaceuticals and semiconductors will be announced shortly, emphasising that the measures on pharmaceutical imports will be unprecedented. The US has announced 26 per cent reciprocal tariffs on India saying New Delhi imposes high import duties on American goods.