President Donald Trump imposed pharmaceutical tariffs and strengthened steel, aluminum, and copper tariffs on Thursday, the one-year anniversary of his worldwide “Liberation Day” tariffs.
Trump imposed a 100 percent tariff on patented pharmaceutical ingredients and products, as well as a 50 percent tariff on goods that are either fully or close to fully aluminum, steel, or copper. Both sets of duties are imposed through proclamations and are Section 232 tariffs.
The pharmaceutical tariffs will take effect for larger companies in 120 days and for smaller companies in 180 days, according to a White House fact sheet.
Companies that agree to Most-Favored-Nation (MFN) deals and enter onshoring agreements with the United States will not pay tariffs until the start of the next presidential administration.
“For companies that only enter into onshoring agreements with the Department of Commerce, a 20% tariff will apply.The Department of Commerce and HHS will provide
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