J&J Plans $400 Million in Extra Tariff Costs Even Before Trump’s Drug Tariffs Begin

Johnson & Johnson, one of the largest pharmaceutical and medical device companies in the world, says it’s planning for about $400 million in additional costs related to President Donald Trump’s tariffs, which seem to change by the hour. Incredibly, those additional costs don’t even include plans yet for Trump’s tariffs on pharmaceutical products, which the president has repeatedly said he’s going to impose soon. Johnson & Johnson beat revenue expectations, up 2.4% to $21.89 billion according to earnings reported Tuesday, with profit of $11 billion in the first quarter, up from $3.26 billion a year earlier. But the company told analysts on a conference call Tuesday that tariffs on Canada and Mexico, along with tariffs on steel and aluminum, must be planned for. The tariffs will be felt “broadly,” rather than in just one area of the company’s portfolio, according to CNBC, with some of the biggest impacts felt on products actually getting shipped from the U.S. to China, which has imposed ... Read full article.