The 100% duties apply to "any branded or patented Pharmaceutical Product" except for companies that build manufacturing plants in the U.S., Trump said Friday.

The 100% duties apply to "any branded or patented Pharmaceutical Product" except for companies that build manufacturing plants in the U.S., Trump said Friday.

U.S. President Donald Trump announces 100% tariff on branded pharmaceutical imports, pushing for U.S. manufacturing, impacting India's $20 billion industry.

The 100% tariff on pharmaceuticals, 25% on trucks, and 30% on furniture will come into effect on October 1.

The good news: There are several loopholes in Trump’s proposal that mean the impact of the new taxes may be limited.

The US largely imports pharmaceutical products from India and Europe.

Investors of Indian pharmaceutical companies are worried about the prospect of further escalation amid U.S. trade tensions.

President Donald Trump announced 100% tariffs on brand drugs. Companies that build a U.S. manufacturing plant will be exempt.