Pfizer's Strategic Move: Avoiding Tariffs through U.S. Production

Pfizer can avoid 'Section 232' pharmaceutical tariffs by relocating production to the U.S. within a three-year grace period, said CEO Albert Bourla. Speaking at the White House with President Trump, this came after a deal focused on drug prices was struck between Pfizer and the Trump administration.

Pfizer, a major U.S. drugmaker, can sidestep 'Section 232' pharmaceutical tariffs by shifting its production to the United States during a three-year window, according to CEO Albert Bourla.

Bourla made the announcement at the White House during an Oval Office event with U.S. President Donald Trump.

This statement follows a negotiated agreement on drug pricing between the pharmaceutical giant and the Trump administration.

(With inputs from agencies.)