Except For Drugmakers On US Soil, Pharma Products Will See 100% Tariff
President Donald Trump has levied tariffs on "any branded or patented pharmaceutical product” entering the country, starting Oct. 1. The president also is eyeing a measure to bring drug costs in line with what other wealthy countries pay.
CNBC:
U.S. To Impose 100% Tariff On Branded, Patented Drugs Unless Firms Build Plants Locally, Trump Says
President Donald Trump announced Thursday that the U.S. will impose a 100% tariff on “any branded or patented Pharmaceutical Product” entering the country from Oct. 1. The measure will not apply to companies building drug manufacturing plants in the U.S., Trump said. He added that the exemption covers projects where construction has started, including sites that have broken ground or are under construction. (Jie and Constantino, 9/25)
The New York Times:
Trump May Try To Force Drugmakers To Match European Prices
The Trump administration may propose a regulatory process to force drugmakers to cut U.S. prices to the lower levels in other wealthy countries, according to a notice that was posted on a federal website. The notice, which was published, then deleted for several hours Thursday, and then republished, refers to a “proposed rule” and a “global benchmark for efficient drug pricing (GLOBE) model” under the Department of Health and Human Services. (Sanger-Katz and Robbins, 9/25)
