CSL (ASX:CSL) has responded cautiously to the United States Administration’s announcement on 2 April 2026 outlining its intention to introduce tariffs on imported pharmaceutical products under Section 232 of the Trade Expansion Act.
The proposed measures, which are scheduled to take effect on 29 September 2026, signal a shift in trade policy aimed at strengthening US domestic manufacturing capacity, yet early indications suggest the impact on CSL’s operations will be contained.
The company said it has begun reviewing the details of the announcement, with an initial assessment indicating that the majority of its product portfolio in the US market is unlikely to fall within the scope of the tariffs. It said this reflects the nature of its product portfolio, particularly its focus on plasma-derived therapies, which occupy a specialised niche within the pharmaceutical sector.
The company said, "CSL’s US plasma therapies are derived entirely from US-sourced plasma. CSL continues to invest in manufacturing and job creation in the US, recently announcing plans to spend $1.5 billion to expand its plasma therapy manufacturing capabilities in Illinois."
It added that CSL Seqirus’ primary product sold in the US is the influenza vaccine Fluad. This is manufactured in the United Kingdom, it said, where the tariff rate is presently 10 per cent. Current expectations are that this tariff will be reduced to 0 per cent.