The United States will impose a 100-percent ad valorem tariff on imports of certain patented pharmaceuticals and associated pharmaceutical ingredients, and adjust ad valorem tariffs on imported steel, aluminum, copper and related derivative products.
In an executive order signed Thursday, U.S. President Donald Trump said that pharmaceutical imports are "in such quantities and under such circumstances as to threaten to impair the national security of the United States."
The tariffs imposed will be effective on or after 12:01 eastern daylight time on July 31, 2026.
The tariffs will be 20 percent for products of companies that have, or that are likely soon to have, onshoring plans approved by the U.S. secretary of commerce, but will increase to 100 percent on April 2, 2030, the order said.
Japan, the European Union, the Republic of Korea, and Switzerland and Liechtenstein, which have struck trade deals with the U.S., will face a 15 percent tariff, and Britain will face a 10 percent tariff, according to the order.
Generic pharmaceutical products, biosimilars and related ingredients have been exempted from tariffs at this time, including nuclear medicines, plasma derived therapies, fertility treatments, and cell and gene therapies, the order said.
Meanwhile, the U.S. will adjust ad valorem tariffs on imported steel, aluminum, copper, and related derivative products starting on April 6.
Under the new order, a flat 50 percent tariff will be levied on products composed entirely or primarily of aluminum, steel, or copper, such as steel coils or aluminum sheets. Imported items that are made up of a significant amount of the metals, like washing machines, will face a 25 percent tariff.
Products made abroad but with entirely American steel, aluminum or copper will only face a 10 percent tariff.
The policy adjustment builds upon measures first introduced in March 2018, when Trump imposed sweeping tariffs on imported steel and aluminum citing national security concerns under Section 232 of the Trade Expansion Act.
After a period of modifications during former U.S. President Joe Biden's administration, Trump, following his return to office in 2025, has moved to revise the existing framework and expand coverage to include copper.
U.S. adjusts tariffs on pharmaceuticals, steel, aluminum, copper
