President Donald Trump announced new tariffs set to take effect this Wednesday. The measures target pharmaceutical imports with 100 percent duties. These tariffs will start on October 1 and cover patented medicines.
Trump stated companies could avoid tariffs by building factories in the United States. He made the announcement on Truth Social early Friday morning. No further details were provided about how exemptions would work.
"We must protect our domestic manufacturing industry for national security reasons," Trump wrote on social media. The move aims to boost US production but may increase drug prices.
This decision continues Trump's protectionist trade policies. It places immediate pressure on international drugmakers. The lack of detailed guidelines creates uncertainty for businesses.