U.S. President Donald Trump on Thursday ordered new tariffs on certain medicines and an overhaul of metal duties, doubling down on his trade agenda a year after launching trade wars on virtually all partners.
The two orders he signed pile pressure on pharmaceutical companies to manufacture more in the United States, while separately targeting firms that officials accuse of "artificially manipulating" metals prices.
Finished products containing substantial amounts of steel, aluminum and copper will also face a 25% tariff on their full value instead of being targeted for the specific amount of metal they contain, a move intended to simplify the system for firms.
It is not immediately clear how these moves will affect consumer prices, but a senior U.S. official told reporters the administration does not expect to see an effect on affordability.
The moves come on the anniversary of what Trump dubbed "Liberation Day," when he announced varying tariff rates on goods from dozens of economies last year, roiling financial markets and snarling supply chains.
Although the Supreme Court struck down those global tariffs in February, Trump has been working to reinstate duties using different authorities. His goal for "Liberation Day" was the rebirth of American industry, bringing an influx of jobs and an investment boom – although critics argue these have largely not materialized.
Making good on a threat from last fall, one of Trump's orders Thursday imposes a 100% tariff on patented pharmaceuticals made abroad unless countries strike trade deals for lower rates or companies commit to building plants in the United States.
Large companies will have 120 days to commit to "reshoring plans" before the steep duty kicks in, while smaller companies have a 180-day buffer, a senior U.S. official said.
"We expect the lion's share of the world's patented pharmaceuticals to be building in America," the official said.
Those who commit to building manufacturing plants – to be completed by the end of Trump's second term – will face a 20% tariff instead. The European Union, Japan, South Korea and Switzerland will be excluded from this plan and face a 15% pharmaceutical duty due to previous trade deals with Washington.
Britain, meanwhile, has secured a deal allowing U.K.-made medicines tariff-free access to the United States for three years as part of a broader pact, the U.S. Trade Representative's office said.
Drug companies that reach "most favored nation" pricing deals with the Trump administration while also building plants in the United States can also be exempt from the sharp pharmaceutical tariff. Generic products are not currently subject to tariffs, a decision the White House said will be reassessed in a year.
The second order Trump signed reshapes his 50% tariffs on steel, aluminum and copper, requiring importers to pay the duty based on prices American buyers are facing. It is set to take effect at 12:01 a.m. EDT Monday, a White House official told Agence France-Presse (AFP).
The senior administration official charged that "foreign countries were artificially manipulating" prices of imported metals to pay lower tariffs.
The same proclamation called for finished products made with more than 15% steel, aluminum and copper to face a 25% tariff on their full value, rather than being targeted based on metal content.
"It's a simplification and a fairness issue," the official said.
Asked about cost-of-living concerns, which have flared ahead of the 2026 midterm elections, the official maintained that the moves should not impact households. "These will not have impact on the price of the good on the shelf," the official insisted.
