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Trump Sets 100% Tariff on Overseas Generic Drugs Starting August 2028, Rising to 200% in 2029
President Trump said a 100% tariff on imported generic drugs will begin 1 August 2028 for one year, followed by a 200% rate. The move reverses a March proclamation that had exempted generics from tariffs.
Jul 21, 7:44 PM·1m read1 source
The GuardianAudio version
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President Trump announced Tuesday that a 100% tariff will apply to generic drugs made overseas beginning 1 August 2028 for one year, rising to 200% after 1 August 2029. The Guardian reported the announcement came in a social media post. Trump stated the policy aims to pressure drug makers to build manufacturing plants in the United States.
The tariffs apply only after a two-year delay from the announcement date. ” The new schedule extends the tariff-free period until the 2028 start date. The Guardian noted that Trump did not specify the legal authority for the future tariffs, including the 200% rate that would take effect in August 2029.
Separately, US gas prices have risen since conflict with Iran resumed this month, with a gallon of fuel now just over $4, almost a dollar more than a year ago, according to the American Automobile Association. Brent Crude, the international oil benchmark, rose almost 2% to $90.92 a barrel.
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