Generic drug tariffs could send prices soaring for millions of Americans

Generic drug manufacturers must move production to the U.S. or face a 100% import duty from August 2028, President Donald Trump said, threatening the supply of low-cost medicines that millions of Americans rely on. The move is aimed at “reshoring” generic pharmaceutical production in the US, and companies that don’t build plants onshore will face levies that would then double, to 200%, in August 2029, Trump said in a social media post. If imposed, the duty risks upending a global supply chain that keeps generic medicines affordable for Americans. These off-patent drugs run the gamut from everyday painkillers and antibiotics…