The United States will impose a 100% tariff on imported pharmaceuticals on October 1st. President Donald Trump announced this this morning on Truth Social.
According to the president, Washington “will impose a 100% tariff on all branded or patented pharmaceuticals, effective October 1st“.
Trump added that exceptions will be made for manufacturers who have already started building their factories in the United States.
On May 12, the president signed an executive order reducing drug prices in the United States by 59-90%. At a press conference, he said he would impose tariffs on imported pharmaceuticals if domestic prices do not align with those in other countries.