TRUMP TO PROCEED WITH PHARMACEUTICAL TARIFFS – Low duties to start end of July & higher rates in 2026
United States President Donald Trump revealed fresh details on planned duties on pharmaceutical imports, announcing that the U.S. would proceed with the tariffs by the end of July.
Trump said the duties would start with “a low tariff” rate to give companies time to move manufacturing to the U.S. before imposing a “very high tariff” in a year or so.
The August 1 deadline gives targeted countries time to negotiate lower tariff rates. Some economists have also noted Trump’s tendency to back off his tariff threats.
Since launching his tariff policy, Trump has clinched only a few “framework” agreements, falling short of earlier promises to land “90 deals in 90 days.”
