Trump announces Liberation Day tariffs targeting imported drugs and steel
Business
President Trump just rolled out new tariffs on foreign-made drugs and steel as part of his "Liberation Day" celebrations.
Some imported medicines could face tariffs up to 100%, while steel imports will now be taxed based on US market prices.
Compliant drugmakers offered tariff relief
13 big pharma companies can skip the tariff if they agree to U.S.-friendly pricing and move production stateside.
Smaller drugmakers can cut their tariff to 20% by teaming up with American manufacturers, or drop it entirely if they adjust prices within six months.