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Story summary
- President Donald Trump announced a new 100% tariff on pharmaceutical companies that do not sell drugs directly to consumers, effective later this summer for large companies and in 180 days for smaller ones.
- The tariff targets imports of patented drugs as part of his “Most Favored Nation” pricing initiative.
- Companies can avoid the tariff by negotiating deals or relocating production to the US.
- This initiative follows a Supreme Court ruling against some of Trump's previous tariffs.
- Trump also revamped tariffs on metals, changing the basis to the price paid by US customers.
