Overview

• The tariff targets branded or patented pharmaceutical imports, with analysts noting most Indian exports are generics and could face limited direct near-term impact.
• Products from firms that are “building” U.S. manufacturing—defined as breaking ground or under construction—are exempt from the new duty.
• Trump also announced 25% tariffs on heavy trucks, 50% on kitchen cabinets and bathroom vanities, and 30% on upholstered furniture beginning Oct. 1.
• The action follows national-security trade probes under Section 232, and industry groups expect clarifications on whether complex generics and APIs could be affected.
• Indian pharma shares fell after the announcement, while economists warn higher costs could flow to U.S. patients and payers, including Medicare and Medicaid.