President Donald Trump announced that a 100% tariff will be imposed on generic drugs produced overseas starting on August 1, 2028, for a duration of one year, followed by a 200% tariff thereafter. This announcement comes amid rising US gas prices, which have increased since the resumption of conflict with Iran. According to the American Automobile Association (AAA), the price of a gallon of fuel is currently just over $4, nearly a dollar higher than the same time last year. Additionally, Brent Crude, the international oil benchmark, has risen by almost 2% to $90.92 per barrel.
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Trump announces tariffs on generic drugs to begin in 2028
President Trump has announced a 100% tariff on generic drugs made overseas starting August 1, 2028, increasing to 200% after one year. This announcement coincides with rising gas prices in the US, which have increased significantly over the past year.
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Trump announces new tariffs on generic drugs to take effect in 2028 – US politics live
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Trump announces tariffs on generic drugs to begin in 2028