The Trump administration announced a 100% tariff on imports of branded pharmaceutical products effective October 1, with exemptions for companies actively building manufacturing plants in the United States. This move follows a series of previous tariff threats and investigations under Section 232 concerning national security implications of drug imports. Generic drugs are excluded from tariffs, and companies that have made recent investments in U.S. manufacturing may avoid duties if ground breaking or construction has commenced. The policy introduces ongoing uncertainty in drug pricing and supply chains amid broader regulatory and policy shifts.