U.S. Trade and Tariff Policy

Citing national‑security authority under Section 232, the administration has imposed tariffs of up to 100% on certain patented brand‑name pharmaceutical imports under a tiered regime—100% for products listed in Annex I, 20% for firms with Commerce‑approved onshoring plans (rising to 100% by 2030), and a zero‑tariff option for companies that both onshore production and sign Most‑Favored‑Nation pricing agreements under the TrumpRx initiative; generics and U.S.‑origin drugs are excluded “at this time,” and preferential rates (e.g., 15% for Japan/EU/South Korea/Switzerland, 10% for the U.K.) are provided for some allies. The tariffs (phased in for some firms on July 31 and others on Sept. 29, 2026) come alongside adjustments to duties on products containing steel and aluminum and mark the first expansion of duties since the Supreme Court partially struck down his earlier broad tariff program in February.