US announces new tariffs on pharmaceutical products, metals

ISTANBUL

US President Donald Trump decided to implement new tariffs on imported pharmaceutical products and critical metals to strengthen national security and domestic supply chains.

The US administration implemented a 100% tariff on imported patented pharmaceutical products and ingredients, White House stated on Thursday.

This tariff rate dropped to 15% for pharmaceutical imports originating from the EU, Japan, South Korea, Switzerland and Liechtenstein.

Pharmaceutical companies faced a 20% tariff if they only signed domestic manufacturing agreements with the government.

Officials exempted generic pharmaceuticals, biosimilars and orphan drugs from these immediate trade measures.

In a parallel move, the administration introduced a flat 50% tariff on articles made entirely or almost entirely of steel, aluminum and copper.

Derivative articles substantially containing these three strategic metals received a flat 25% import penalty.

The government applied a temporary 15% tariff on specific metal-intensive industrial and electrical grid equipment until 2027.

Foreign-manufactured goods manufactured exclusively with American metals qualified for a reduced 10% tariff rate.

Products containing 15% or less steel, aluminum or copper completely escaped these new trade tariffs.