Trump Announces Escalated Plan to Impose Tariffs of Up to 200% on Generic Drugs
· Telemundo McAllen (KTLM)
President Donald Trump has unveiled a plan to impose tariffs of up to 200% on essential generic medications by 2029, aimed at boosting pharmaceutical production in the U.S. The phased approach includes a 100% tariff starting in August 2028, increasing to 200% the following year. For the next two years, generic medications will remain tariff-free. Trump stated that the goal is to 'relocalize' production, penalizing companies that do not establish manufacturing within the set timeframe. While the plan targets generics, the existing tariff structure for patented drugs remains unchanged, with some exceptions for companies that relocate production to the U.S.
AI summary · Source: Telemundo McAllen (KTLM) →
