Washington DC/IBNS, July 22 -- US President Donald Trump has announced a phased imposition of tariffs on imported generic medicines, culminating in a 200 percent duty, in a move that is likely to impact several countries, including India.

The two-year window has been provided to allow pharmaceutical companies to shift their production to the United States before the steep tariffs take effect.

The move is aimed at encouraging pharmaceutical companies to manufacture generic medicines within the United States. Impact on India Pharmaceutical exports could take a major hit: The United States is India's largest pharmaceutical export market, and India supplies a substantial share of the generic medicines consumed there. A 200 percent tariff wo...