A lot could happen on the trade front in the next few weeks, from pressuring Russia on Ukraine to arguing the legality of the administration’s tariff policy, to a China-U.S. summit. Here are a few developments to watch.

Finally, don't discount legal challenges to the president's tariffs. An argument could be made that pharmaceutical products made in Ireland, the primary overseas source for Lilly, don't present a national security threat to the U.S., since Ireland is a staunch ally.

The opening salvo of second-quarter earnings calls this week came against President Donald Trump’s renewed calls for a tariff on pharmaceuticals. | The opening salvo of second-quarter earnings calls this week came against President Donald Trump’s renewed threat of a tariff on pharmaceuticals.

CEO Vas Narasimhan said the company has built up its U.S. inventories to help mitigate the impact of tariffs this year. During a CNBC interview, Narasimhan emphasized the company’s strong fundamentals,

President Donald Trump's proposed tariffs on pharmaceuticals could lead to higher prices, higher insurance premiums, and even drug shortages, experts say.

Healthcare costs are already expensive for many. In some states, tariff-related price hikes are showing up in 2026 rate filings -- see if yours is one of them.

Johnson & Johnson expects a smaller hit from tariffs than it predicted earlier in the year, despite uncertainty over the prospects of new U.S. levies on pharmaceuticals. J&J now predicts tariffs will add $200 million to costs for 2025,

Washington: US President Donald Trump has said his administration might start imposing tariffs on pharmaceutical imports at the end of the month, while noting the timeline for duties on semiconductors was "similar" to that of those on pharmaceuticals.