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European, Asian pharma stocks rally as Trump spares sector from reciprocal tariffs but the cheer may be shortlived
- Pharma stocks surged after the US exempted pharmaceuticals from reciprocal tariffs.
- Trump's mixed messaging and lack of clarity on 10% baseline tariffs leave room for future tariff risks.
- US government is considering launching a Section 232 investigation into pharmaceuticals and semiconductors.
April 3, 2025