Trump’s pharma tariffs: Big hits, bigger loopholes
The Trump administration has unveiled a plan to place tariffs on imported drugs, with some name-brand pharmaceuticals facing a levy as high as 100 percent. However, there are exemptions for generic drugs, companies building manufacturing plants in the US, and drugs for rare diseases, among others.
The Trump administration has announced tariffs on imported drugs. The tariffs could be as high as 100 percent for some name-brand pharmaceuticals. However, generic drugs and companies that have committed to building manufacturing plants in the US are exempt. Drugs for rare diseases and their ingredients are also exempt. Pharmaceuticals from the EU, Japan, South Korea, and Switzerland will face a 15 percent tariff. The US and UK have a separate deal that reduces tariffs to zero percent. The tariffs are the result of a Commerce Department investigation into the national security implications of producing drugs overseas.
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