&imwidth=800&imheight=600&format=webp&quality=medium "Trump doubles down on trade agenda with new pharma and steel tariffs")
US President Donald Trump on Thursday (April 2) imposed new tariffs on certain medicines and overhauled metal duties, reinforcing his trade agenda a year after launching trade wars with nearly all partners. The orders pressure pharmaceutical companies to manufacture more in the US, while targeting firms accused of "artificially manipulating" metals prices. Finished products with significant steel, aluminum, or copper will face a simplified 25% tariff on full value instead of a metal-content calculation.
A senior official said they did not expect these measures to affect affordability. The moves coincide with the anniversary of Trump’s “Liberation Day,” when he first announced broad tariffs that disrupted markets and supply chains. One order imposes a 100% tariff on patented pharmaceuticals made abroad unless trade deals are struck or companies commit to building US plants. Large firms have 120 days, smaller ones 180 days, to submit reshoring plans.
"We expect the lion's share of the world's patented pharmaceuticals to be built in America," said a senior official. Companies building US plants will face a 20% tariff. The EU, Japan, South Korea, and Switzerland face 15% due to prior trade deals. The UK secured tariff-free access for three years. Exemptions exist for firms reaching "Most Favored Nation" pricing deals. Generic drugs remain untaxed.
The second order reshapes 50% tariffs on steel, aluminum, and copper, targeting foreign price manipulation and simplifying tariffs on products with over 15% metal content. "It's a simplification and a fairness issue," the official said.
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Asked about household costs, the official said, "These will not have an impact on the price of the good on the shelf." It is set to take effect from 12:01 am Eastern Time on Monday, a White House official told new agency AFP.
