US President Donald Trump announced the new regulation regarding customs duties on imported generic drugs in a post on his Truth Social account.
NO TAXES FOR TWO YEARS
Trump stated that the customs duty on generic drugs imported into the US will be applied at 0 percent for two years starting from August 1, 2026. Trump said, "Following this period, the tax rate will be increased to 100 percent for 1 year, and then to 200 percent thereafter."
GOAL IS TO BRING PRODUCTION TO THE US
Stating that the main purpose of the policy is to bring pharmaceutical production back to the US, Trump said that companies that do not establish production facilities and make the necessary equipment investments within the time granted to them will face the announced high customs duties.
Trump used the expressions, "The purpose of this policy is to protect the American people. Our highly successful policy regarding patented, branded, or innovative drugs will continue as is."
Noting that investments in pharmaceutical production facilities across the US are gaining momentum, Trump added that production facilities are being built nationwide at a "level never seen before."
News Source: İHA
