AsianFin -- U.S. President Donald Trump, who has already slapped tariffs on a wide range of goods from cars to steel and aluminum, is now turning his sights to pharmaceuticals.

Trump has pledged to impose steep tariffs on imported medicines — a product category that has largely escaped his trade war until now. For decades, most pharmaceuticals entering the U.S. have been exempt from duties, keeping them shielded from the cost pressures that tariffs bring.

The move risks driving up drug prices for consumers and exacerbating shortages in a market already under strain.