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1 week ago

Trump unveils phased tariffs on generic drugs to boost US production

President Donald Trump announced Tuesday that imported generic drugs will remain tariff-free for the next two years before facing steep new import duties, saying the move is designed to encourage pharmaceutical companies to manufacture more medicines in the U.S.In a Truth Social post, Trump said all generic drugs imported into the U.S. will continue to face a 0% tariff beginning Aug. 1, 2026, for a two-year transition period. After that, the tariff will rise to 100% for one year before increasing to 200%."Effective August 1st, 2026, all Generic Drugs being brought into the United States will c...