In a late-night post on Truth Social, Trump announced a whopping 100% tariff on certain imported medicines kicking in October 1. It's aimed straight at branded and patented drugs from overseas, but here's the twist, skip the hit if you're building a factory in the U.S.
Trump framed this as a national security move, part of a bigger batch of tariffs unveiled Thursday night. We're talking 25% on heavy trucks and 30% on furniture too, all to shield American jobs from what he calls unfair foreign competition.
The drug levy stems from a Commerce Department probe earlier this year under Section 232, which lets the president slap duties on imports that threaten U.S. safety. No more relying on factories in places like China or India for our meds, he says. Companies get a pass if they've already started U.S. projects, think their recent pledges of billions in domestic plants.
Why does this matter to everyday folks? Well, America imports a ton of pharmaceuticals, nearly $213 billion last year, up triple from a decade ago. Trump pitches it as a win for lower drug prices down the line, by forcing production home where it's "safer and cheaper." But hold on, experts aren't so sure. Building factories takes years, and in the short run, this could mean pricier pills as costs get passed to people.
Families skip doses because of high bills; anything that ramps up costs feels like a gut punch, even if it's meant to fix bigger problems. On the other hand, it's got drug giants scrambling in a good way. Trade watchers worry about ripples, higher prices abroad, maybe even supply issues if companies drag their feet.
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