WASHINGTON (dpa-AFX) - President Donald Trump has announced that he will impose 100 percent tariff on imports of brand-name or patented pharmaceutical products from next month unless the drug manufacturing company establishes a production plant in the United States.
'Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,' he wrote on Truth Social Thursday. 'IS BUILDING' will be defined as, 'breaking ground' and/or 'under construction'. There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started. Thank you for your attention to this matter'.
Pharmaceutical industry association PhRMA warned that the proposed tariffs would jeopardize hundreds of billions in new US investments that PhRMA companies have announced.
'PhRMA companies continue to announce hundreds of billions in new US investments thanks to President Trump's pro-growth tax and regulatory policies,' Alex Schriver, senior vice president at the Pharmaceutical Research and Manufacturers of America, known as PhRMA, said in a statement.
'Tariffs risk those plans because every dollar spent on tariffs is a dollar that cannot be invested in American manufacturing or the development of future treatments and cures.'
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