U.S. President Donald Trump on Tuesday said he plans to announce tariffs on imported pharmaceuticals which could reach 200% but he would give drugmakers about one year "to get their act together." "We're going to give people about a year,

President Donald Trump suggested Tuesday his administration intends to impose a 200% tariff rate on pharmaceutical imports into the U.S., which would take effect in a year, a major fee that could affect some $200 billion in imports and raise prices on Americans’ medications if it takes effect.

Trump sent letters to 14 countries threatening them with new tariffs, and the White House said more countries may be included in the coming days.