Overview

• Effective October 1, the U.S. will levy 100% duties on branded or patented pharmaceutical imports, with an exemption for companies defined as “building” U.S. plants through breaking ground or active construction.
• Trump also announced new import levies—50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy-duty trucks—citing protection of U.S. manufacturing and national security.
• Asian and Indian pharmaceutical shares fell on Friday after the move, with India’s Nifty Pharma index down more than 2%, according to market reports.
• Key implementation issues remain unresolved, including treatment of companies that already operate U.S. facilities and whether complex generics or active pharmaceutical ingredients could be drawn in.
• The U.S. imported about $233 billion in pharmaceuticals in 2024, while India shipped roughly $8.7 billion to the U.S. in FY24, fueling concerns over higher drug costs and pressure on major exporters.