Trump’s 100% ‘medicine tax’: The high-stakes ultimatum to big pharma | World News
President Donald Trump signed an executive order Thursday that could slap long-threatened pharmaceutical tariffs of up to 100% on some patented drugs from companies that don’t reach deals with his administration in the coming months. Companies that have signed a “most favored nation” pricing deal and are actively building facilities in the U.S. to onshore production of patented pharmaceuticals and their ingredients will have a 0% tariff. For those that don’t have a pricing deal but are building such projects in the US, a 20% tariff will apply but will increase to 100% in four years. A senior administration official told reporters on a press call that companies still have months to negotiate before the 100% tariffs kick in — 120 days for bigger companies, and 180 days for everyone else. The official, speaking on condition of anonymity to preview the executive order before it was issued, did not identify any companies or drugs that were in jeopardy of getting hit with the increased tariffs but noted the administration had already reached 17 pricing deals …
