US president Donald Trump said pharmaceutical tariffs are coming 'very soon'. 

Speaking to reporters on Air Force One on the way back from attending a meeting of G7 leaders, Trump said also said pharmaceutical tariffs were coming very soon.

"We're going to be doing pharmaceuticals very soon. That's going to bring all the companies back into America," he said. "It's going to bring most of them back into, at least partially back in."

Pharma companies edged down in premarket trading.

In March, Mr Trump said he planned to "bring our pharmacy industry back," calling out Ireland and China specifically as countries benefitting from US companies. In April, he shelved plans to bring the tariffs for pharmaceuticals.

Ireland is one of the largest pharmaceutical exporters in the world due to several large US firms operating manufacturing sites across the country, with their earnings contributing significantly to the corporation tax receipts collected each year by the Exchequer.

Excluding the tax collected from last year's Apple case, Ireland's corporate tax intake rose to €28bn in 2024, up from €23.8bn in the previous year.

On Monday, Finance Minister Paschal Donohoe said that Ireland is vulnerable due to its reliance on corporation tax and foreign direct investment. "Much of the headline balance arises from a handful of large multinationals and, as I mentioned, the mood-music is changing. It is not appropriate – indeed it could be dangerous – to plan on the basis of these receipts being permanent," Mr Donohoe said.

Meanwhile Mr Trump also said the European Union was not yet offering a fair deal in trade talks between the United States and the 27-nation bloc.

Mr Trump left the G7 meeting early to deal with developments in the Middle East from the White House. The president said the 27-nation EU had been tough over the years with the United States. "We're talking, but I don't feel that they're offering a fair deal yet," Trump said. "They're either going to make a good deal or they'll just pay whatever we say they have to pay."