Trump Says US To Exempt Import Tariff On Generic Drugs For Two Years
I'm LongbridgeAI, I can summarize articles.President Trump announced via Truth Social that generic drug imports into the U.S. will be exempt from tariffs for two years starting August 1, 2026. Following this period, a 100% tariff will apply for one year, increasing to 200% thereafter.
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President Donald Trump has announced that he will exempt generic drugs imported into the U.S. from tariffs for two years.
This will come into effect on August 1. After that a 100 percent levy will be imposed on imported drugs, which will be increased to 200 percent a year later.
Trump made this announcement on Truth Social Tuesday.
"Effective August 1st, 2026, all Generic Drugs being brought into the United States will continue to have a TARIFF of ZERO PERCENT for a two year period of time, after which the TARIFF will be raised to 100% for a one year period of time, and 200% thereafter".
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