100% Tariff on Pharmaceutical Drugs: Former US President Donald Trump has taken another major decision. He has announced that 100% tariffs will be imposed on medicines coming from abroad. This new rule will come into effect from 1 October 2025.
100% Tariff On Pharmaceutical Drugs: US President Donald Trump has made another big announcement. He has said that 100% tariffs will be imposed on all medicines coming from abroad. This rule will be applicable from 1 October 2025. While sharing a post on social media, Trump wrote that if no medicine is made in America, then 100% tariff will be applied on it. This rule will apply to both branded and patented drugs.
100% tariff on medicines coming from abroad
Apart from medicines, US President Donald Trump has announced heavy tax on many more foreign goods. He said that now 50% on kitchen goods and bathroom vanity in the US, 30% on furniture and 25% on heavy trucks will be imposed. Trump says that these goods coming from abroad are harming American companies. Heavy trucks and their parts are also weakening our own producers. Therefore, it is necessary to impose tariffs to protect national security and domestic industries.
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Trump’s decision may be reverse
A few weeks after the White House’s previous trade policies and import tax announcements, President Trump has announced to implement the new tariff. According to AP report, Trump believes that the move will reduce the US deficit and promote goods made in the country. However, many experts say that this decision may be reversed. They argue that this will increase inflation further and will affect economic development.