President Donald Trump announced that tariffs will be imposed on imported generic drugs starting in two years. This move follows his recent announcement of tariffs on Canadian goods, signaling a ramp-up in his tariff policy.
On July 21, Trump stated on his social media platform Truth Social, "Beginning August 1, 2026, all generic drugs entering the United States will continue to be subject to a 0% tariff for the next two years. However, after that, a 100% tariff will be imposed for one year, followed by a 200% tariff thereafter."
He added, "This is aimed at reshoring generic drug production to the United States. Companies that do not establish production facilities and equipment within the designated timeframe will face corresponding consequences."
Trump emphasized, "Our goal is to protect the American people. Policies regarding patented, branded, and innovative drugs will continue to be successfully implemented as they have in the past. Currently, pharmaceutical manufacturing facilities of unprecedented scale are being built across the country."
Following his announcement of a 50% tariff on key Canadian products the previous day, Trump is intensifying his tariff actions with the announcement of tariffs on generic drugs. Additionally, a new tariff based on Section 301 of the Trade Act is expected to be announced on July 24, coinciding with the expiration of the global tariff deadline that replaced reciprocal tariffs.
* This article has been translated by AI.
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