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The United States announces a 100% tariff increase on imported patented drugs and pharmaceutical ingredients.
People’s Finance and News, April 3—Reuters reported on April 2 local time that the U.S. government will impose an additional 100% tariff on certain imported pharmaceutical products. The White House issued a statement on the same day saying that U.S. President Trump signed a document that day, under Section 232 of the Trade Expansion Act of 1962, the U.S. will impose an additional 100% tariff on imported patented drugs and pharmaceutical ingredients. The measure also provides a pathway for exemptions or tariff reductions, aiming to pressure pharmaceutical companies to reach agreements with the White House on drug pricing and the reshoring of the industry. (CCTV News)