U.S. to impose 100% tariff on branded, patented drugs unless firms build plants locally, Trump says
Shelf of pharmaceutical products.
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President Donald Trump said in a statement on Thursday that the US will apply a 100% tariff to all branded or patented pharmaceutical products “entering the country since October 1.
Trump added that the measure will not be valid for companies that build drug production facilities in the United States.
Exemption, the ground -breaking or under construction sites, including the construction of the projects began, he said.
“Therefore, if the construction starts, this will not be a tariff for pharmaceutical products,” Trump added Trump Real social.
The announcement arrived because Trump introduces a 25% task in heavy trucks and introduces a 50% tax in “all kitchen cabinets, bathroom ladies and related products”, which will begin on October 1.
In August, Trump said CNBC’s “Squawk Box” planned tariffs for drugs imported to the United States, and finally reached up to 250%, the highest rate it threatened.
He said that he would initially apply a “small tariff” to drugs, but then “maximum” for one and a year from one year to 150% and then to 250%.
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