President Trump signed an executive order imposing a 100% tariff on imported brand-name drugs and associated active pharmaceutical ingredients, with carveouts tied to manufacturing commitments and “Most Favored Nation” agreements. The policy is framed under Section 232 national security provisions and comes as negotiators push confidential pricing and manufacturing deals. Separately, STAT+ reported that the administration is extending the same pricing-deal playbook to smaller drugmakers that were not included in the first round. Smaller companies can negotiate lower prices to avoid tariffs or pricing policies, Reuters-style confirming the government’s intent to expand leverage beyond large incumbents. For biopharma, the combination of tariff exposure and deal-driven exemptions raises near-term planning risk across supply chains, especially for branded products that depend on imported inputs and for companies without established US manufacturing sites or MFN pathways.