United States President Donald Trump has announced another fresh series of tariffs on specific industries, with declaring that import of branded pharmaceuticals will have a 100% tariff in the USA, unless the companies are already manufacturing their facilities in the country.
The order will take effect from 1st October. However, companies that are building production facilities in the United States are exempted.
After imposing a 50% tariff on India (including extra 25% for acquiring Russian oil) this move is yet another effort to harm the country, popular as the “pharmacy of the world,” alongside another major Asian economy, China which also has a precarious relationship with the Trump administration.
According to the Census Bureau, the United States imported pharmaceutical and medical