U.S. President Donald Trump announced that for the next two years, no customs duties will be imposed on generic drugs imported into the country, after which the tariffs will be gradually increased.
The U.S. leader announced this in a social media post.
According to Trump, starting August 1, the customs duty rate on all generic drugs imported into the U.S. will remain at 0% for two years.
After this period, the duty will be raised to 100% for one year, and then to 200%.
Trump explained that this measure is aimed at bringing generic drug manufacturing back to the United States. He noted that companies that do not begin investing in the construction of facilities and the purchase of necessary equipment in the U.S. during the specified period will face sanctions.
The president emphasized that the goal of this policy is “to protect the American people.”
At the same time, Trump noted that the current policy regarding patented, brand-name, and innovative drugs will remain unchanged.
“Across the United States, manufacturing facilities for drugs are being built on a scale the country has never seen before,” Trump said.
