President Donald Trump on Monday reiterated his plans to impose levies in the “not too distant future” on pharmaceutical goods, a product category that has long been immune from tariff threats due to public health impact.

“We don't make our own drugs anymore,” Trump said during an interaction with media at the White House, adding, “The drug companies are in Ireland, and they're in lots of other places, like China.” Responding to a question on a timeline for pharma tariffs, the president said it could be imposed in the “not too distant future.”

Arguing that steeper tariffs will speed up pharma majors' plans to shift their manufacturing businesses to the U.S., Trump said, “The higher the tariff, the faster they come.”

Companies such as Merck (MRK), J&J (JNJ), Lilly (LLY), and Novartis (NVS) (OTCPK:NVSEF) have stepped up their efforts to boost their U.S. manufacturing operations amid Trump’s repeated tariff threats.

“We're doing it because we want to make our own drugs,” he added. While Trump's Liberation Day tariffs excluded pharmaceuticals early this month, several days later, he threatened to introduce a "major" tariff on pharmaceutical imports.

Related ETFs: Health Care Select Sector SPDR Fund (NYSEARCA:XLV), SPDR S&P Pharmaceuticals ETF (NYSEARCA:XPH), VanEck Pharmaceutical ETF (NASDAQ:PPH), iShares Nasdaq Biotechnology ETF (NASDAQ:IBB), iShares U.S. Pharmaceuticals ETF (IHE), NYSE Arca Pharmaceutical Index (DRG), and Invesco Nasdaq Biotechnology ETF (IBBQ).