Yahoo Finance

No matter how high President Trump cranks up tariffs, many industries are never coming back to the U.S. For industries that require cheap labor such as apparel and toys, bringing that production to Pennsylvania or Ohio just doesn’t make sense. For pharma, an industry in which gross margins are among the highest in the S&P 500, labor was never really the reason for moving offshore to places like Ireland—it was always about playing the global tax game. Tariffs are certainly getting pharma CEOs to listen, and many are already stockpiling imports while expanding production within existing U.S. sites.