India, July 22 -- President Donald Trump has announced that he will exempt generic drugs imported into the U.S. from tariffs for two years.
This will come into effect on August 1. After that a 100 percent levy will be imposed on imported drugs, which will be increased to 200 percent a year later.
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Trump made this announcement on Truth Social Tuesday.
"Effective August 1st, 2026, all Generic Drugs being brought into the United States will continue to have a TARIFF of ZERO PERCENT for a two year period of time, after which the TARIFF will be raised to 100% for a one year period of time, and 200% thereafter".
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