Trump announces 100% tariffs on imported generic pharmaceutical drugs

US President Donald Trump announced a 100% tariff on imported generic pharmaceutical drugs on Tuesday. The tariff, which aims to bolster US pharmaceutical PresidentDonald Trumpsaid on Tuesday that allgeneric drugsbrought into the US willcontinue to have a tariffof 0% for two years starting from August 1, after which the tariff rate will be raised to 100% for one year and to 200% thereafter.