Donald Trump announced a new package of tariffs on Tuesday, this time on generic drugs made overseas, to begin in 2028.
The announcement, in a social media post, came just three months after the president issued a proclamation saying that generic pharmaceuticals “are not subject to tariffs at this time” but that decision “will be reassessed in one year.”
Trump’s latest head-spinning reversal on tariff policy means, he said, that generic drugs will continue to be imported tariff-free until 1 August 2028, when a 100% tariff would be imposed “for a one year period of time, and 200% thereafter.” The goal of the policy, Trump said, was to coerce drug makers into building plants in the United States.