The US will impose zero al valorem tariff on certain speciality drugs and related ingredients used for treatment of rare medical conditions imported from India and 19 other countries, even as Washington prepares to levy a 100 per cent tariff on specified patented pharmaceutical products from September 29.
The exemptions are part of the implementation of Trump’s April proclamation adjusting imports of pharmaceuticals and pharmaceutical ingredients under Section 232 of the Trade Expansion Act. On April 2, Trump issued a proclamation imposing tariffs on imports of patented pharmaceuticals, biologics and associated ingredients into the US as part of efforts to encourage domestic production.
The US Commerce Department published the list of countries eligible for the zero tariff rate in the Federal Register as part of its implementation of President Donald Trump’s plan to raise duties on certain pharmaceutical imports.
