President says 100% tariff would be imposed on generic drugs made overseas after 1 August 2028 ‘for a one year period of time, and 200% thereafter’ Sign up for US Breaking News ema…

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. As he wages war on Iran to prevent that country from enriching uranium, Donald Trump has reportedly approved a deal with ⁠Saudi Arabia to have US firms build a civilian nuclear energy program in the kingdom, which could include a uranium enrichment facility, US officials told the Wall Street Journal. The deal, which the administration plans to submit ⁠to Congress ⁠in the ​coming days, does not include safeguards to prevent the uranium from being used to make nuclear weapons, Reuters reports. The 30-year deal is estimated to be worth tens of billions of dollars, the Journal reports. The agreement could be signed as soon as Wednesday by the US energy secretary , Chris Wright, and the ​Saudi ​energy minister, Abdulaziz bin Salman.