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One year after signing his Liberation Day tariffs into law, President Trump has issued a new executive order targeting pharmaceutical drugs
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Trump says brand-name drugs from companies that don't cut deals with his administration in the coming months could face tariffs up to 100%
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Companies that sign on to his most-favored nation pricing plan and build facilities in the United States would face no tariffs
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Companies that build in the U.S. but don't join the pricing plan would start at 20 percent
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with tariffs rising to 100 percent over four years. Larger drug makers would have 120 days to negotiate before tariffs take effect
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while smaller companies would get 180 days. It is still unclear which companies or which drugs would be hit
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So far, the administration says it has reached deals with 17 major drug makers
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including 13 that are finalized