Pharmaceutical Stocks Rise After Trump Announces Tariffs
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Some drug company stocks went up on Friday. This happened after President Trump talked about new taxes. The stocks did a bit better than other stocks that day.
Trump said he wants new import taxes on some drugs. These taxes will be one hundred percent, starting in October. But companies building factories in America will not pay these taxes.
Some big drug companies are building new factories in the US. Merck, Lilly, and Johnson & Johnson are doing this. They announced these plans to expand their factories.
Trump has talked about drug taxes before. He said he would wait to give companies time. Companies started storing more medicines in the United States earlier this year.
One analyst said the new taxes may not hurt big drug companies. They are already building factories in America. Other analysts said smaller drug companies might have problems with these taxes.
Questions
What happened to some drug company stocks on Friday?
Some drug company stocks went up.
What did Trump say about import taxes on drugs?
He wants new import taxes on some drugs that will be one hundred percent.
Which big drug companies are building new factories in the US?
Merck, Lilly, and Johnson & Johnson are building new factories.
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