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The US will not charge any ad valorem tariff on certain speciality drugs and associated ingredients used for treatment of rare medical conditions imported from India and 19 other countries. An ad valorem tariff is a set percentage of the monetary value of the goods to be taxed, according to the World Customs Organisation. The US Commerce Department published the list of countries in the Federal Register as it prepares to impose a 100 per cent tariff on certain patented pharmaceutical imports and their associated ingredients from September 29. On April 2, President Donald Trump issued a proclamation to impose tariffs on imports of patented pharmaceuticals, biologics, and associated ingredients into the US as part of efforts to encourage domestic production. Eligible products for the zero per cent tariff rate include all drugs designated for rare diseases, infertility treatments, cell therapies, gene therapies, antibody-drug conjugates (ADCs), and animal pharmaceuticals. Components o
The US House of Representatives voted to advance a bill that would authorise President Donald Trump to impose 100 per cent tariffs on India and other countries for buying oil and gas from Russia and extend existing sanctions on Iran. The Lindsey O Graham Sanctioning Russia and Iran Act of 2026 cleared a procedural hurdle in the House of Representatives on Tuesday evening after two Democratic lawmakers broke ranks with the party and voted in favour with the Republicans. The resolution to advance the Russia sanctions bill and a slew of other legislations was approved by a 214-211 vote, shocking the House Democratic leadership. The bill is expected to come up for a final vote in the House on Wednesday. Democratic Congressman Gregory Meeks, the ranking member of the House Foreign Affairs Committee, on Monday opposed the Russia sanctions bill contending that it would grant President Trump unchecked authority to impose tariffs without any guardrails. Last month, the US Senate passed the
A group of 25 Democratic-ruled states has moved a US court against President Donald Trump's decision to impose tariffs on 60 economies accounting for 99.4 per cent of American imports. Last month, the US imposed a fresh round of tariffs ranging between 10 per cent and 12.5 per cent on these 60 countries, citing failure on the issue of forced labour, to replace the 10 per cent global levies that expired on July 24. The 25 states moved the US Court of International Trade on Monday against the Trump administration for again implementing tariffs on several countries, contending that it will raise costs for consumers and businesses nationwide. New York Attorney General Letitia James, Governor Kathy Hochul and the coalition of the Democratic states are asking the Court of International Trade to declare these tariffs illegal. "After losing at the Supreme Court, the administration is once again trying to illegally raise taxes on families and businesses with a new round of tariffs," James s