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Trump Pharma Tariffs: Latest News
About Trump Pharma Tariffs: Latest News
US President Donald Trump on Wednesday announced a phased tariff plan for imported generic medicines, giving drugmakers a two-year window before duties begin to rise sharply.
Under the proposal, generic drugs imported into the US will continue to attract zero tariffs from August 1 for two years, after which the tariff will increase to 100 per cent for one year before rising further to 200 per cent in August 2029. The phased structure is intended to give pharmaceutical companies time to shift manufacturing operations to the US before punitive tariffs take effect.
“This is done in order to RESHORE Generic Pharmaceutical Production into America, with a penalty to those Companies that decide not to build Plant and Equipment within the stated period of time given to them,” Trump said in the post.
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