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Trump announces 100% tariffs of some pharmaceuticals
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Sept. 26, 2025, 11:24 AM EDTBy Rob Wile and Steve KopackAnalysts are already warning that U.S. consumers could see higher prices due to new tariffs President Donald Trump plans to impose on drug product imports as soon as next week.But a series of exemptions may blunt the ultimate impact. In a Truth Social post late Thursday, Trump said that any branded or patented pharmaceutical products brought into the U.S. would face a 100% tariff starting Oct. 1.U.S. imports of pharmaceuticals totaled about $213 billion in 2024, a threefold increase from a decade earlier, according to data from the United Nations Comtrade Database.With Asia alone accounting for just over 20% of those imports by value, U.S. consumers could see a “meaningful commercial hit,” Louise Loo, head of Asia economics at Oxford Economics research group, said in a note to clients. Previous studies have shown that U.S. annual spending per capita on prescription drugs is about double the rest of the developed world. In July, Trump announced a plan to “get Americans the best prices in the world for prescription drugs” that involved asking major drugmakers to match low prices they offer elsewhere in the world. However, it is not clear what actions the pharma firms have taken to begin addressing that demand. The pharmaceutical industry is already warning that the new tariffs could derail further drug development while also raising prices. “Every dollar spent on tariffs is a dollar that cannot be invested in American manufacturing or the development of future treatments and cures,” Alex Schriver, senior vice president for PhRMA, the drug industry’s primary lobbying group, said in a statement. “Medicines have historically been exempt from tariffs because they raise costs and could lead to shortages.”Despite those warnings, a significant share of drug products could wind up being exempted from the new import duties. The tariffs do not appear to apply to so-called generic drugs, which account for 9 out of 10 prescriptions filled in the U.S., according to the Food and Drug Administration. The White House did not immediately respond to a request to confirm the exemption for generics, but assuming they will remain tariff-free, the impact to consumers could be more limited than feared. Trump also specified that any drug companies that currently have, or have committed to building, U.S.-based drug-making facilities would be exempted from tariffs. That’s a category that includes numerous major drugmakers. “Many pharmaceutical companies have facilities in the U.S., so it may be relatively easy to superficially expand those facilities to avoid tariffs being applied,” Paul Donovan, chief global economist at UBS Global Wealth Management, wrote in a note to clients. Analysts at JPMorgan agreed: “While there remains very limited details, we note that this will likely lead to a majority of pharma products being excluded from any tariffs” because most major companies have recently increased or have started to increase their U.S. manufacturing facilities.On the White House website, the administration maintains a “running list of new U.S. investment” from private companies. At least 15 pharmaceutical or drug makers are listed with investments ranging from new manufacturing facilities, tens of billions in expanded U.S. production and increased R&D spending. Many of those announcements would appear to meet the requirements laid out by Trump to avoid the new tariff.Two major European drugmakers, Roche and Novartis, said in statements that they expected little to no impact from the newly announced duties. “We are working to ensure that all major Novartis medicines for U.S. patients are manufactured in the U.S.,” Novartis said in a statement. “The announced 100% tariff should not have an impact.” Roche pointed to ongoing factory construction in the U.S., with multiple sites being expanded and upgraded in Kentucky, Indiana, New Jersey and California.Trump has signaled since at least April that drug imports would face tariffs. In anticipation, major drugmakers have indicated they have been stockpiling supplies, analysts said. As a result, consumers are unlikely to feel immediate effects even though the tariffs are set to kick in next week. “We think there may have been significant inventory accumulation this year,” Neil Shearing, group chief economist with Capital Economics, said in a note. This summer, Trump placed a maximum 15% tariff on most pharmaceuticals coming in from the European Union, which accounts for 60% of drugs imported by the U.S. E.U. officials believe that this agreement will shield it from the 100% duties, though they said they could not be certain. “This clear all-inclusive 15% tariff ceiling for E.U. exports represents an insurance policy that no higher tariffs will emerge for European economic operators,” a European Commission spokesperson told NBC News on Friday.Ireland’s deputy prime minister, Simon Harris, who also acts as trade minister, said his country is “studying the impact of this announcement” but added that he believed the 15% cap on pharma tariffs remained in place. Ireland alone accounts for 24% of pharma imports to the U.S.Rob WileRob Wile is a Pulitzer Prize-winning journalist covering breaking business stories for NBCNews.com.Steve KopackSteve Kopack is a senior reporter at NBC News covering business and the economy.
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October 12, 2025
Oct. 12, 2025, 1:54 AM EDTBy Phil HelselPam Bondi vs. the Senate: Round Two. That was the scenario envisaged by “Saturday Night Live” on Saturday, with alum Amy Poehler portraying the attorney general in a follow-up to her combative hearing with Democrats this week.Asked how President Donald Trump could justify deploying National Guard troops against Americans, Poehler’s Bondi was confrontational.”Before I don’t answer, I’d like to insult you personally,” Poehler’s Bondi responded.Fellow former cast member Tina Fey made a surprise appearance as Homeland Security Secretary Kristi Noem, toting an assault-style rifle and making a pitch for applicants to become Immigration and Customs Enforcement officers that included questions like, “Do you need a job now?” and “Do you take supplements that you bought at a gas station?””Then buckle up and slap on some Oakleys, big boy: Welcome to ICE,” Fey’s Noem said.Poehler, a seven-year “SNL” cast member who left in 2008 to go on to “Parks and Recreation” fame, hosted for the third time Saturday.Her appearance came on the 50th anniversary of “Saturday Night Live,” which premiered Oct. 11, 1975.”It’s always a dream come true to be here. I remember watching the show in the ’70s, sitting in my house in Burlington, Massachusetts, thinking: ‘I want to be an actress someday — at least until they invent an AI actress who’s funnier and willing to do full-frontal,'” Poehler said in her monologue.She also had a message of hope for those who may feel overwhelmed. “If there’s a place that feels like home, that you can go back to and laugh with your friends, consider yourself lucky — and I do,” she said.And she had the last laugh against her imagined AI doppelgänger. “And to that little AI robot watching TV right now who wants to be on this stage someday, I say to you: Beep, boop, beep, boop beep beep,” Poehler said. “Which translates to: You’ll never be able to write a joke, you stupid robot! And I am willing to do full-frontal, but nobody’s asked me, OK?”Another skit had a cameo by Aubrey Plaza, a former intern and guest host on “SNL” who also starred on “Parks and Recreation.”In a parody of Netflix’s “The Hunting Wives” — introduced as “the straight but lesbian horny Republican murder drama” — Plaza played “a new new girl” who joined the group. After a sexually charged lesson in how to make a mimosa, Plaza revealed she had a girlfriend, prompting the other women to shout, “lesbian!” and immediately pull their guns on her.The reunion did not end there. A “Weekend Update” anchor trio of Seth Meyers, Fey and Poehler, who have all been behind the desk, joined current hosts Colin Jost and Michael Che for a quiz show-style battle.Role Model was Saturday’s musical guest. His performance of “Sally, When The Wine Runs Out” featured an appearance by Charli XCX. At the end of the episode, “SNL” paid tribute to Oscar-winning actor Diane Keaton, showing a portrait. Keaton died at the age of 79, her daughter said earlier Saturday.Sabrina Carpenter, who recently released the album “Man’s Best Friend,” is the host and musical guest of next week’s episode. “SNL” airs on NBC, a division of NBCUniversal, which is also the parent company of NBC News.Phil HelselPhil Helsel is a reporter for NBC News.
September 22, 2025
Editor’s Note: This story was originally published in April 2023. CNN  —  Slumped on his club, head buried in his arm, Rory McIlroy looked on the verge of tears. The then-21-year-old had just watched his ball sink into the waters of Rae’s Creek at Augusta National and with it, his dream of winning The Masters, a dream that had looked so tantalizingly close mere hours earlier. As a four-time major winner and one of the most decorated names in the sport’s history, few players would turn down the chance to swap places with McIlroy heading into Augusta this week. Yet on Sunday afternoon of April 10, 2011, not a golfer in the world would have wished to be in the Northern Irishman’s shoes. Flying A fresh-faced, mop-headed McIlroy had touched down in Georgia for the first major of the season with a reputation as the leading light of the next generation of stars. An excellent 2010 had marked his best season since turning pro three years earlier, highlighted by a first PGA Tour win at the Quail Hollow Championship and a crucial contribution to Team Europe’s triumph at the Ryder Cup. Yet despite a pair of impressive top-three finishes at the Open and PGA Championship respectively, a disappointing missed cut at The Masters – his first at a major – served as ominous foreshadowing. McIlroy shot 74 and 77 to fall four strokes short of the cut line at seven-over par, a performance that concerned him enough to take a brief sabbatical from competition. McIlroy (L) races England’s Ian Poulter (R) during the Par 3 Contest prior to the 2011 Masters. Harry How / Getty Images But one year on in 2011, any lingering Masters demons looked to have been exorcised as McIlroy flew round the Augusta fairways. Having opened with a bogey-free seven-under 65 – the first time he had ever shot in the 60s at the major – McIlroy pulled ahead from Spanish first round co-leader Alvaro Quirós with a second round 69. It sent him into the weekend holding a two-shot cushion over Australia’s Jason Day, with Tiger Woods a further stroke behind and back in the hunt for a 15th major after a surging second round 66. And yet the 21-year-old leader looked perfectly at ease with having a target on his back. Even after a tentative start to the third round, McIlroy rallied with three birdies across the closing six holes to stretch his lead to four strokes heading into Sunday. McIlroy drives from the 16th tee during his second round. Andrew Redington / Getty Images The youngster was out on his own ahead of a bunched chasing pack comprising Day, Ángel Cabrera, K.J. Choi and Charl Schwartzel. After 54 holes, McIlroy had shot just three bogeys. “It’s a great position to be in … I’m finally feeling comfortable on this golf course,” McIlroy told reporters. “I’m not getting ahead of myself, I know how leads can dwindle away very quickly. I have to go out there, not take anything for granted and go out and play as hard as I’ve played the last three days. If I can do that, hopefully things will go my way. “We’ll see what happens tomorrow because four shots on this golf course isn’t that much.” McIlroy finished his third round with a four shot lead. Timothy A. Clary / AFP via Getty Images Falling The truth can hurt, and McIlroy was about to prove his assessment of Augusta to be true in the most excruciating way imaginable. His fourth bogey of the week arrived immediately. Having admitted to expecting some nerves at the first tee, McIlroy sparked a booming opening drive down the fairway, only to miss his putt from five feet. Three consecutive pars steadied the ship, but Schwartzel had the wind in his sails. A blistering birdie, par, eagle start had seen him draw level at the summit after his third hole. A subsequent bogey from the South African slowed his charge, as McIlroy clung onto a one-shot lead at the turn from Schwartzel, Cabrera, Choi, and a rampaging Woods, who shot five birdies and an eagle across the front nine to send Augusta into a frenzy. Despite his dwindling advantage and the raucous Tiger-mania din ahead of him, McIlroy had responded well to another bogey at the 5th hole, draining a brilliant 20-foot putt at the 7th to restore his lead. The fist pump that followed marked the high-water point of McIlroy’s round, as a sliding start accelerated into full-blown free-fall at the par-four 10th hole. His tee shot went careening into a tree, ricocheting to settle between the white cabins that separate the main course from the adjacent par-three course. It offered viewers a glimpse at a part of Augusta rarely seen on broadcast, followed by pictures of McIlroy anxiously peering out from behind a tree to track his follow-up shot. McIlroy watches his shot after his initial drive from the 10th tee put him close to Augusta’s cabins. Andrew Redington / Getty Images Though his initial escape was successful, yet another collision with a tree and a two-putt on the green saw a stunned McIlroy eventually tap in for a triple bogey. Having led the field one hole and seven shots earlier, he arrived at the 11th tee in seventh. By the time his tee drive at the 13th plopped into the creek, all thoughts of who might be the recipient of the green jacket had long-since switched away from the anguished youngster. It had taken him seven putts to navigate the previous two greens, as a bogey and a double bogey dropped him to five-under – the score he had held after just 11 holes of the tournament. Mercifully, the last five holes passed without major incident. A missed putt for birdie from five feet at the final hole summed up McIlroy’s day, though he was given a rousing reception as he left the green. Sunday at the Masters natpkg_00005015.jpg video Related video Sunday at the Masters Mere minutes earlier, the same crowd had erupted as Schwartzel sunk his fourth consecutive birdie to seal his first major title. After starting the day four shots adrift of McIlroy, the South African finished 10 shots ahead of him, and two ahead of second-placed Australian duo Jason Day and Adam Scott. McIlroy’s eight-over 80 marked the highest score of the round. Having headlined the leaderboard for most of the week, he finished tied-15th. McIroy was applauded off the 18th green by the Augusta crowd after finishing his final round. Robyn Beck / AFP via Getty Images Bounce-back Tears would flow during a phone call with his parents the following morning, but at his press conference, McIlroy was upbeat. “I’m very disappointed at the minute, and I’m sure I will be for the next few days, but I’ll get over it,” he said. “I was leading this golf tournament with nine holes to go, and I just unraveled … It’s a Sunday at a major, what it can do. “This is my first experience at it, and hopefully the next time I’m in this position I’ll be able to handle it a little better. I didn’t handle it particularly well today obviously, but it was a character-building day … I’ll come out stronger for it.” Once again, McIlroy would be proven right. Just eight weeks later in June, McIlroy rampaged to an eight-shot victory at the US Open. Records tumbled in his wake at Congressional, as he shot a tournament record 16-under 268 to become the youngest major winner since Tiger Woods at The Masters in 1997. McIlroy celebrated a historic triumph at the US Open just two months after his Masters nightmare. Jim Watson / AFP via Getty Images The historic victory kickstarted a golden era for McIlroy. After coasting to another eight-shot win at the PGA Championship in 2012, McIlroy became only the third golfer since 1934 to win three majors by the age of 25 with triumph at the 2014 Open Championship. Before the year was out, he would add his fourth major title with another PGA Championship win. And much of it was owed to that fateful afternoon at Augusta. In an interview with the BBC in 2015, McIlroy dubbed it “the most important day” of his career. “If I had not had the whole unravelling, if I had just made a couple of bogeys coming down the stretch and lost by one, I would not have learned as much. “Luckily, it did not take me long to get into a position like that again when I was leading a major and I was able to get over the line quite comfortably. It was a huge learning curve for me and I needed it, and thankfully I have been able to move on to bigger and better things. “Looking back on what happened in 2011, it doesn’t seem as bad when you have four majors on your mantelpiece.” A two-stroke victory at Royal Liverpool saw McIlroy clinch the Open Championship in 2014. Tom Pennington / Getty Images The missing piece McIlroy’s contentment came with a caveat: it would be “unthinkable” if he did not win The Masters in his career. Yet as he prepares for his 15th appearance at Augusta National this week, a green jacket remains an elusive missing item from his wardrobe. Despite seven top-10 finishes in his past 10 Masters outings, the trophy remains the only thing separating McIlroy from joining the ranks of golf immortals to have completed golf’s career grand slam of all four majors in the modern era: Gene Sarazen, Ben Hogan, Gary Player, Jack Nicklaus, and Tiger Woods. The Masters is the only major title to elude McIlroy. Mike Mulholland / Getty Images A runner-up finish to Scottie Scheffler last year marked McIlroy’s best finish at Augusta, yet arguably 2011 remains the closest he has ever been to victory. A slow start in 2022 meant McIlroy had begun Sunday’s deciding round 10 shots adrift of the American, who teed off for his final hole with a five-shot lead despite McIlroy’s brilliant 64 finish. Rory McIlroy: I will win the Masters SPT_00000410.jpg video Related video Rory McIlroy: I will win the Masters At 33 years old, time is still on his side. Though 2022 extended his major drought to eight years, it featured arguably his best golf since that golden season in 2014. And as McIlroy knows better than most, things can change quickly at Augusta National.
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