Current Tariff & Trade Policy Updates

Mar 12, 2026 3:33:08 PM | Current Tariff & Trade Policy Updates

Stay updated on recent Southeast Asia trade developments impacting the U.S. healthcare supply chain, including tariff predictability, supplier market access, and regional logistics improvements.

U.S. Tariff Policy Updates

 

PLEASE NOTE: The information provided in this resource page reflects the latest available insights on tariff developments at the time of publication. Given the dynamic nature of trade policies, regulations, and market conditions, updates may occur frequently. Readers are encouraged to verify details with official sources (www.whitehouse.gov) and industry experts, as prior posts serve as point-in-time references and may not reflect the most current changes.

 

Pharmacy Tariff Report – March 2026

Pharmaceutical Tariffs: What We Know

The global trade landscape is shifting, and pharmaceutical tariffs remain a critical topic for health systems and suppliers alike. Our latest report breaks down:

✅ Recent trade agreements and exemptions
✅ Potential impacts on brand and generic pharmaceuticals
✅ Inflation projections and strategies for FY26

 

This resource is designed to help GPO members navigate uncertainty and plan effectively for the year ahead.Latest Update: Effective February 24, 2026, the Trump administration has replaced the now-defunct IEEPA tariffs with a 10% global tariff under Section 122 of the Trade Act of 1974, a move triggered by the Supreme Court’s ruling that IEEPA cannot be used to levy duties. This new “balance of payments” tariff applies uniformly to most trading partners for a 150-day window, though it maintains critical exceptions for USMCA-qualified goods and specific pharmaceuticals and medical ingredients mirrored from previous lists. While this provides a temporary legal bridge, the administration is simultaneously launching broad Section 301 investigations to establish more permanent, country-specific trade barriers by this summer.

 

📥 Check out the full report on pharmacy-specific insights here PharmaceuticalTariffUpdates-February_March2026.pdf

📞 For questions or deeper discussion, reach out to Sudha Narayanaswamy at sudha_narayanaswamy@premierinc.com.

 

 

Tracker for Supplier Submitted Price Increases

Out of the thousands of contracts Premier manages, only a small number of suppliers have submitted requests for price increases related to tariffs. We’ve compiled these into a list to help our members and account management teams track them more easily.

For additional questions about a specific supplier or contract, please reach out to Talmadge_Patterson@PremierInc.com.

 

 

Sunsetting of Premier’s Tariff Impact and Risk Modeling System

Following the Supreme Court’s decision that the International Emergency Economic Powers Act (IEEPA) does not authorize the imposition of tariffs, and the subsequent termination of all IEEPA‑based tariffs, Premier has sunset the Reciprocal Tariff (IEEPA) Impact and Risk Modeling System.

With respect to current trade actions and based on current conditions, at this time Premier does not anticipate that the recently announced Section 122 tariffs will affect contracted pricing during the period they are in effect (up to 150 days, or through July 24, 2026). Consistent with this approach, Premier has also temporarily archived the pharmaceutical tariff dashboard and is not including tariff‑associated pricing estimates in the March update of the bi‑annual Drug Budget Tool.

 

Situation Report

 4/2/26 - The Trump administration Releases Two Executive Orders.

  • White House Strengthens Section 232 Tariffs on Aluminum, Steel, and Copper Imports
    • The President issued a proclamation modifying existing Section 232 tariff regimes to apply ad valorem duties to the full customs value of aluminum, steel, and copper articles and covered derivative products, regardless of metal content. Effective April 6, 2026, most covered products will face 25 percent or 50 percent tariffs, with reduced rates available for certain U.K. products and for derivative articles made entirely with U.S. origin metals.
  • White House Adjusts Imports of Pharmaceuticals and Pharmaceutical Ingredients Under Section 232
    • The President issued a proclamation determining that imports of pharmaceuticals and pharmaceutical ingredients threaten to impair U.S. national security, citing heavy reliance on foreign manufacturing for finished drugs and active pharmaceutical ingredients. The action establishes a Section 232 framework to adjust pharmaceutical imports, with the goal of reducing dependence on foreign supply chains and strengthening domestic drug manufacturing capacity.

3/4/26 – Section 122, Temporary Tariff Authority Explained

  • Section 122 gives the President fast, temporary authority to impose uniform import restrictions, including tariffs of up to 15% or import quotas, when a large or imminent U.S. balance‑of‑payments deficit is declared, without the investigations required under Sections 232 or 301.
  • Following the Supreme Court’s invalidation of IEEPA tariff authority, President Trump invoked Section 122 for the first time, imposing a 10% global tariff effective February 24, 2026, with select exemptions such as pharmaceuticals and USMCA‑qualifying goods.
  • Section 122 tariffs are limited in scope and duration, must apply uniformly across all countries, cannot exceed 15%, and automatically expire after 150 days (July 24, 2026) unless Congress votes to extend them, creating near‑term uncertainty.
  • The administration views Section 122 as a bridge, signaling a longer‑term strategy that may rely on other trade authorities such as Sections 232 and 301 to pursue more targeted or higher tariffs, amid ongoing legal and political uncertainty.

 

Premier and External Resources