WASHINGTON — The Trump administration announced Thursday 100% tariffs on imported brand-name drugs — but with significant caveats.
Many large drugmakers won’t have to pay the tax because they’ve struck deals with the U.S. to build manufacturing facilities here and lower the prices of their medications. Drugmakers that haven’t struck those deals but pledge to bring production to the U.S. can have their tariffs reduced to 20% for the remainder of Trump’s term.Â
The tariffs open a new front in the Trump administration’s efforts to rein in the pharmaceutical industry and in its push to bring manufacturing back to the U.S. The announcement comes as Trump has looked to emphasize his administration’s work to make prices — especially medicines — more affordable ahead of the midterms.Continue to STAT+ to read the full story…