WASHINGTON: US President Donald Trump on Thursday announced tariffs of up to 100 per cent on imports of branded and patented pharmaceutical drugs, starting October 1, 2025. The move could hit the Indian pharmaceuticals sector hard as it is significantly dependent on trade with foreign countries, particularly the US.
In a post on Truth Social, the US President stated, “Starting October 1, 2025, we will be imposing a 100 per cent Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America."
The Republican leader added in his post on Truth Social, “'IS BUILDING’ will be defined as, "breaking ground" and/or "under construction." There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started. Thank you for your attention to this matter.”
The latest tariff spree also included 50 per cent duty on imports of kitchen cabinets and bathroom vanities, 30 per cent on upholstered furniture, and 25 per cent on heavy trucks.
Foreign producers, President Trump stated, were undercutting US companies.
“Furniture and cabinetry are flooding the United States. Heavy trucks and parts are hurting our own producers. Tariffs are needed — for National Security and other reasons, ” President Trump said.
The measures come just weeks after the White House announced earlier trade frameworks and import taxes.
President Trump has already slapped 50 per cent tariffs on Indian imports, which also includes a 25 per cent 'penalty' for continued purchase of Russian oil.