New Delhi, July 22 -- WASHINGTON - President Trump signed an executive order on Wednesday imposing a 100 percent tariff on imported generic drugs, Anadolu Agency confirmed, a sweeping trade action targeting the roughly 90 percent of all US prescriptions filled at American pharmacies with off-patent medications. The tariff is set to take effect in August 2028, giving pharmaceutical manufacturers an 18-month window the White House described as a runway for reshoring production to the United States from India, China, and other major producing countries.

Shares of generic drug manufacturers fell sharply within hours of the announcement, with the Wall Street Journal reporting that the sector declined as much as six percent in afternoon tradin...