Albert Bourla, CEO of Pfizer, stated that the uncertainty surrounding pharmaceutical tariffs, as signaled by U.S. President Donald Trump, is hindering further investment in the United States, according to a report by U.S. business outlet CNBC on April 29 (local time).
According to CNBC, CEO Bourla made these remarks during a first-quarter earnings call, in response to a question about what he wanted from the ongoing tariff negotiations.
CEO Bourla said, "If we knew there would be no tariffs, there could be tremendous investment in both research and development and manufacturing in this country (the United States)," adding that the company is seeking 'certainty.'
He also noted that the tax environment, which had previously driven manufacturing overseas, has "changed significantly" with the introduction of a global minimum tax rate of about 15%. He went on to say that investing in the United States without additional incentives or clarity regarding tariffs is not favorable.
CEO Bourla said he knows this from speaking directly with President Trump, and he is confident that President Trump, in particular, will want tax reductions for products manufactured domestically in the United States. He added that further tax cuts would provide a strong incentive for manufacturing.
Pfizer has not revised its annual outlook but explained that "at this point, the potential impact of unpredictable future changes in tariffs and trade policy is not included in the performance forecast."
Previously, the U.S. government launched an investigation to determine whether it is necessary to restrict imports of semiconductors and pharmaceuticals through tariffs or other means for national security reasons. President Trump has repeatedly stated that semiconductors and pharmaceuticals are critical to national security and has announced plans to impose tariffs to encourage domestic production in the United States.
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