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Will China’s Retaliatory Tariffs Galvanize Manufacturing Onshoring?

Some Firms Are Already Localizing

 
• By Dexter Jie Yan

China’s imposed large retaliatory tariffs on US pharmaceuticals on 10 April, but some domestic firms with in-licensed, US-origin assets were already moving to localized manufacturing.

China ran a deficit of $3bn in the drug trade with the US in 2024. (Shutterstock)

China’s retaliatory tariffs mean the option of manufacturing US-originated drugs in China is making more sense than ever, at least to some local partners of US pharmaceutical companies.

China imposed on 10 April an 84% tariff on all imported goods originating from the US, in response to the...

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