Trump Unveils 100% Tariff On Some Patented Drugs

NEW YORK (AP) — President Donald Trump has signed an executive order 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 U.S., a 20% tariff will apply but increase to 100% in four years. Companies still have months to negotiate before the 100% tariffs kick in. Also Thursday, Trump rolled out an update on his 50% tariffs on imported steel, aluminum and copper.