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Drugmakers to face 100% tariff unless they cut prices or produce drugs in US, Trump administration says
The order gives companies 120 days to negotiate lower rates through U.S. investment or pricing deals, while exempting several trade partners.
- On Thursday, one year after 'Liberation Day,' President Donald Trump imposed 100 percent tariffs on imported branded pharmaceuticals, targeting companies that have not agreed to lower prices and move production to the United States.
- Trump's administration aims to pressure manufacturers to 'communicate most-favored-nation price targets' and build domestic plants, with large companies facing a 120-day compliance deadline and smaller producers having 180 days before duties apply.
- Separately, Trump revised metals duties, halving tariffs on many steel, aluminum, and copper derivatives to 25 percent while cutting duties on specific industrial equipment to 15 percent to support domestic infrastructure.
- The United States finalized a zero-tariff deal for British-made pharmaceuticals, yet the Chamber's policy chief Neil Bradley warned the scheme will 'raise healthcare costs for American families.'
- U.S. Trade Representative Jamieson Greer defended the tariffs as a 'reset button' for a broken global trading system, following last month's Supreme Court ruling that previous tariffs were unlawful.
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US President Donald Trump has signed executive orders by which it imposes, on the one hand, new customs duties on a number of imported medicinal products and changes them to existing metals in exactly one year from the announcement of its global customs duties.
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Coverage Details
Total News Sources150
Leaning Left26Leaning Right31Center47Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 25%
C 45%
R 30%
Factuality
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