President Donald Trump plans to impose hefty import taxes on pharmaceuticals, a category of products he has so far largely spared from tariffs set on products across the globe, the Associated Press reports.
For decades, imported medicine has been allowed to enter the U.S. duty-free, but U.S. and European leaders recently detailed a trade deal that includes a 15% tariff rate on some European goods brought into the U.S., including pharmaceuticals.
Trump is threatening tariffs of 200% more on drugs made elsewhere, despite promising Americans he’ll lower their drug costs.
