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

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.

2/23/26 – Tariff Policy Update: Supreme Court Limits Emergency Authority and New Trade Actions Follow

  • The Supreme Court invalidated tariffs imposed under the IEEPA emergency authority, meaning broad, emergency‑based global tariffs are no longer valid, but tariffs are not going away.
  • Existing tariffs remain in place, including Section 301 tariffs tied to unfair trade practices (such as China‑related tariffs) and Section 232 national security tariffs (such as steel and aluminum).
  • In response, the administration shifted to Section 122 authority, imposing a temporary 10% ad valorem import surcharge effective February 24 for up to 150 days, with pharmaceutical exemptions, signaling a move toward more targeted, legally grounded tariff actions rather than sweeping emergency measures.

2/9/26 – U.S. & India Announce Trade Agreement – Lower’s Tariff from 50% to 18%

  • The United States and India reached a framework for an Interim Trade Agreement, advancing toward a broader Bilateral Trade Agreement
  • The U.S. will apply a reciprocal 18% tariff on many Indian goods, with plans to remove tariffs on items like generic pharmaceuticals, gems, diamonds, and aircraft parts once the full BTA is finalized.

Updates to Premier’s Tariff Scenario and Impact Modeling Tools have been made to reflect the lower tariff rate.

 

Premier and External Resources