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How tariffs are reshaping the US pharmaceutical industry

A man walks through a pharmacy in New York City.
Photo: Gary Hershorn/Getty Images

President Trump’s broad 10% tariff push spares pharma for now, but global supply chains may not stay immune.

When the storm hits, the worst course of action is to cling to the past, replaying “what ifs,” panicking over what should have been done, or wishing the winds would simply pass. Crises demand clarity, not nostalgia.

The first step is to see things exactly as they are: without illusion,