00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Trump said generic drugs imported into the U.S. will face zero tariffs for two
00:06years starting August 1, followed by a 100% tariff in August 2028 and a 200% tariff a year
00:13later,
00:14according to CNBC. Trump said the schedule is intended to push generic drug makers to
00:19build plants and facilities in the U.S. Tariffs on patented and branded drugs will remain unchanged.
00:24More than a dozen major drug makers, including Eli Lilly, Pfizer and Novo Nordisk, have reached
00:30agreements with Trump to lower medicine prices and receive three-year tariff exemptions.
00:35India supplies nearly half of the generic medicines consumed in the U.S., while Chinese
00:40firms dominate the supply of active pharmaceutical ingredients.
00:43For all things money, visit Benzinga.com.
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