Indian pharmaceutical exports to the U.S. were valued at approximately USD 8 billion, with the industry witnessing growth rate (CAGR) of 8%

Trump to Impose “Major Tariff on Pharma Shortly”,  India supplies nearly 40% Drugs latest news: Washington (USA), Tuesday Night (Local Time): U.S. President Donald Trump on Tuesday announced that a new tariff targeting the pharmaceutical sector is imminent.

Speaking at the National Republican Congressional Committee dinner, Trump said, "Tariffs on pharma will be there because we don't make our own pharma drugs; they are made in another country. The same packet in the U.S. is priced at USD 10 or more. We are going to tariff pharma in such a way that companies will come rushing to us very soon. The advantage we have is, we are a very big market. Very shortly, we will announce a major tariff on pharma, and when these companies hear that, they will leave China and other countries because most of their products are sold here. And they will be opening their plants here."

According to reports, India supplies nearly 40% of the generic drugs imported into the U.S. The proposed tariff could adversely impact Indian pharmaceutical exports and the U.S. healthcare system, potentially driving up drug prices and worsening inflation, as the U.S. heavily relies on India's cost-effective pharmaceutical products.

A report by The Financial Express revealed that in FY24, Indian pharmaceutical exports to the U.S. were valued at approximately USD 8 billion, with the industry witnessing a compound annual growth rate (CAGR) of 8% between FY15 and FY24.

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