U.S. to Enforce Steep Tariff on Imported Pharmaceuticals

The United States is set to implement a significant 100% tariff on the import of branded or patented pharmaceutical products beginning October 1. The announcement was made by President Donald Trump, intending to incentivize domestic manufacturing.

The tariff will not apply to companies that commence the construction of manufacturing plants within the U.S., a move aimed at boosting local industry and reducing dependence on foreign imports.

The decision aligns with Trump's broader strategy to stimulate the national economy and increase employment, encouraging pharmaceutical companies to establish production facilities on American soil.

(With inputs from agencies.)