The tariffs are Trump’s way of getting drug companies to move more of their operations to the U.S. at a time when domestic drug manufacturing has declined. Eli Lilly has been quick to comply, announcing plans to invest at least $27 billion to build four new manufacturing sites across America.

President Donald Trump said on Tuesday that the United States would initially place a "small tariff" on pharmaceutical imports before hiking it to 150% within 18 months and eventually to 250% in an effort to boost domestic production.