Tuesday, 02 January 2024 12:17 GMT

Donald Trump Administration Delays 100% Tariff On Brand-Name Drug Imports, Still 'Being Worked On'


Date:

(MENAFN- Live Mint) The Trump administration appears to have delayed putting a 100% tariff on some imported drugs – which the president threatened last week to impose on brand-name or patented pharmaceutical products unless the drugmaker is breaking ground on a manufacturing plant in the United States.

“The Commerce Department continues to evaluate pharmaceutical companies' proposals to reshore manufacturing and reduce drug prices to (Most Favored Nation) rates as they prepare pharmaceutical tariffs,” a White House official told CNN.

The official added that the tariffs would not be going into effect Wednesday – the date President Donald Trump gave last week when announcing the levies – but said they“are still being worked on.”

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Live Mint

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