特朗普加征100%关税：中企影响不大，欧洲面临直接冲击？

Core Viewpoint - The recent announcement by President Trump regarding the imposition of high tariffs on various imported products, including a 100% tariff on branded and patented pharmaceuticals, is expected to have limited impact on Chinese pharmaceutical companies, while European firms may face significant challenges [1][2]. Group 1: Impact on Chinese Pharmaceutical Companies - The new tariffs do not apply to generic drugs, and the number of innovative drugs from China sold in the U.S. is limited, resulting in minimal effects on Chinese pharmaceutical firms [2][3]. - China's pharmaceutical export value is relatively small, ranking 10th globally with an export value of $54.56 billion, which is only 17.8% of the U.S. total [3]. - The branded drugs targeted by the tariffs have a low export volume from China to the U.S., with most brand-name drugs consumed in the U.S. coming from European countries [3][4]. Group 2: European Pharmaceutical Industry - The European pharmaceutical industry is facing direct impacts from the new U.S. tariff policy, with a projected 13.5% increase in pharmaceutical exports to the U.S. in 2024, reaching €31.34 billion [7]. - Ireland is a key hub for European pharmaceuticals, with exports to the U.S. expected to exceed €44.4 billion in 2024, accounting for over 60% of its exports to the U.S. [7]. - Major U.S. pharmaceutical companies have established manufacturing facilities in Ireland to produce drugs for export to the U.S. and global markets [7][8]. Group 3: U.S. Manufacturing and Investment Trends - Companies building pharmaceutical factories in the U.S. can avoid the new tariffs, leading to increased investment in U.S. manufacturing capabilities by several multinational pharmaceutical firms [8]. - Notable investments include Merck's decision to halt a £1 billion project in the UK and Pfizer's potential relocation of some overseas production to the U.S. in response to tariff threats [8]. - Companies like Novartis and Johnson & Johnson have announced significant investments in U.S. infrastructure to ensure key drugs are manufactured domestically [8].