"The administration announced a year ago that the US Department of Commerce would conduct a related investigation under that law. The resulting report was recently sent to the president, and although the findings have not been made public, Trump's executive order summarizes key takeaways and Secretary Howard Lutnick's recommended actions."
"According to the order, the secretary's recommendations included 'continuing to negotiate onshoring agreements related to most favored nation (MFN) pharmaceutical pricing agreements; imposing significant tariffs on pharmaceuticals and pharmaceutical ingredients, so that such imports will not threaten to impair the national security of the United States.'"
"Citing an unnamed Trump administration official, The Washington Post reported Thursday that 'the White House has reached agreements with 13 drugmakers and expects to soon conclude an additional four.' As part of these deals, companies are planning to invest at least $400 billion in new US plants."
A new executive order imposes tariffs as high as 100% on brand-name pharmaceuticals from other countries. This initiative, announced on the anniversary of Liberation Day, is intended to bolster U.S. national security and public health. The Department of Commerce conducted an investigation under the Trade Expansion Act, leading to recommendations for onshoring agreements and significant tariffs on imports. Agreements with 13 drugmakers are expected to result in $400 billion investments in U.S. production facilities, while some drugs may face lower tariffs due to existing trade deals.
Read at Truthout
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