Trump said the tariffs will go into effect on October 1, but the levy won’t apply to companies that have started building manufacturing plants in the U.S.
Key Facts
In a Truth Social post on Thursday evening, Trump wrote: “Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America.”
The president’s post added that no levy will be charged if “construction has started” for such manufacturing plants.
Major Asian stock indices fell on Friday morning, following Trump’s announcement, with Japan’s Nikkei 225 Index, Hong Kong’s Hang Seng Index, South Korea’s KOSPI and India’s Sensex dropping 0.
