{"text":[[{"start":8.95,"text":"Donald Trump has announced plans to impose tariffs of 100 per cent on some of the most widely used drugs in America from 2028 as part of his latest effort to move manufacturing to the US."}],[{"start":22.15,"text":"The president announced generic drugs — which are unpatented or unbranded medicines — would face tariffs of 100 per cent from August 2028, rising to 200 per cent one year later."}],[{"start":35.25,"text":"The latest tariff salvo targets a vital part of the pharmaceutical industry as Trump increases pressure on multinational companies to locate manufacturing in the US. "}],[{"start":45.75,"text":"Generic drugs account for 90 per cent of filled prescriptions in the US, according to the US Food and Drug Administration, which estimates about 70 per cent of generic drugs are sourced from outside the US."}],[{"start":58.9,"text":"“This is done in order to RESHORE Generic Pharmaceutical Production into America, with a penalty to those Companies that decide not to build Plant and Equipment within the stated period of time given to them,” Trump wrote on Truth Social on Tuesday evening."}],[{"start":74.6,"text":"Generic drugs were exempt earlier this year when the White House announced duties of up to 100 per cent on branded and patented medicines but offered substantial carve-outs to companies and countries."}],[{"start":85.8,"text":"Lower rates of 15 per cent were offered for countries that struck trade deals with Washington, including Switzerland, Japan, the EU and South Korea. "}],[{"start":95.1,"text":"The UK will enjoy zero tariffs on its exports for three years following a deal covering UK drug pricing and investment with the US. "}],[{"start":103.64999999999999,"text":"Pfizer, AstraZeneca and Novo Nordisk were among the companies that have struck deals with the Trump administration to boost investment in the US and lower their drug prices in exchange for a reprieve on the tariffs."}],[{"start":116.35,"text":"Companies that plan to build more manufacturing capacity in the US can also apply to the commerce department to enjoy a four-year period of a lower 20 per cent tariff."}],[{"start":126.3,"text":"Trump on Tuesday said his tariff policy on branded drugs would remain unchanged."}],[{"start":131.75,"text":"The Association for Accessible Medicines, a trade group representing generic drugmakers, said it was trying to understand “the specifics of the policy”."}],[{"start":140.9,"text":"John Murphy, chief executive of the group, said: “The generics industry is committed to pursuing policies that support and stabilise both the industry and the access necessary to ensure patients have reliable options for affordable medicines.”"}],[{"start":154.15,"text":"The pharmaceutical tariffs unveiled earlier this year were issued as the result of a national security investigation under Section 232 of the Trade Expansion Act of 1962, which was left untouched by the Supreme Court ruling that struck down other US duties in February."}],[{"start":177.55,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1784692961_5208.mp3"}