President Donald Trump on Wednesday announced a phased tariff plan for imported generic medicines, saying they would continue to enter US duty-free for the next two years before attracting tariffs of up to 200%.
"Effective August 1st, 2026, all Generic Drugs being brought into the United States will continue to have a tariff of zero percent for two years, after which the tariff will be raised to 100 per cent for one year, and 200 per cent thereafter," Trump said.
"This is done in order to RESHORE Generic Pharmaceutical Production into America, with a penalty to those Companies that decide not to build Plant and Equipment within the stated period of time given to them," he added.
