Canada ready to ‘intensify’ trade talks as Trump orders new tariffs – US politics live

Donald Trump announced a new package of tariffs on Tuesday, this time on generic drugs made overseas, to begin in 2028.

The announcement, in a social media post , came just three months after the president issued a proclamation saying that generic pharmaceuticals “are not subject to tariffs at this time” but that decision “will be reassessed in one year.”

Trump’s latest head-spinning reversal on tariff policy means, he said, that generic drugs will continue to be imported tariff-free until 1 August 2028, when a 100% tariff would be imposed “for a one year period of time, and 200% thereafter.” The goal of the policy, Trump said, was to coerce drug makers into building plants in the United States.

Trump did not state what legal authority he was claiming to impose future tariffs on generic drugs, particularly the projected 200% tariff which would come into effect in August 2029, six months after the end of his final term.