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WASHINGTON—President Donald Trump signed executive orders on Thursday raising levies on some medications and refining calculations on steel tariffs.
Pharmaceutical drugs produced outside the United States are subject to 100 percent tariffs, unless manufacturers agree to onshore production and offer most-favored-nation pricing.
The Commerce Department is authorized to reduce levies to 20 percent for companies that invest in American facilities and remove the tariffs entirely for those that agree to both conditions.
Generic medications are exempt from the tariffs for one year, with a reassessment scheduled for 2027.
Exceptions were granted, lowering tariffs to 15 percent for the European Union, Switzerland, Japan, and South Korea, and a 10 percent levy for the United Kingdom….
Pharmaceutical drugs produced outside the United States are subject to 100 percent tariffs, unless manufacturers agree to onshore production and offer most-favored-nation pricing.
The Commerce Department is authorized to reduce levies to 20 percent for companies that invest in American facilities and remove the tariffs entirely for those that agree to both conditions.
Generic medications are exempt from the tariffs for one year, with a reassessment scheduled for 2027.
Exceptions were granted, lowering tariffs to 15 percent for the European Union, Switzerland, Japan, and South Korea, and a 10 percent levy for the United Kingdom….
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