US President Donald Trump announced a 100% duty on branded or patented drugs effective Oct. 1, unless manufacturers build production facilities in the US.
The measure targets medicines protected by trademarks, patents, or other intellectual property rights, which block competition from generic equivalents until such protections expire.
In a post on his platform Truth Social, Trump clarified that the tariffs would not apply to companies establishing drug plants in the US. Exemptions will also cover projects already under construction or in progress.
Trump noted that the tariffs would incentivize pharmaceutical companies to relocate their operations to the US.
US President Donald Trump announced a 100% duty on branded or patented drugs effective Oct. 1, unless manufacturers build production facilities in the US.
The measure targets medicines protected by trademarks, patents, or other intellectual property rights, which block competition from generic equivalents until such protections expire.
In a post on his platform Truth Social, Trump clarified that the tariffs would not apply to companies establishing drug plants in the US. Exemptions will also cover projects already under construction or in progress.
Trump noted that the tariffs would incentivize pharmaceutical companies to relocate their operations to the US.
