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The United States has announced a 100% tariff exemption on imports of certain specialised medicines and related pharmaceutical ingredients from Bangladesh and 18 other countries.
The exemption means products covered by the order from these 19 countries will not face the new 100% tariff, while similar imports from other countries will be subject to the duty, according to a report by Business Standard on Tuesday (September 29).
The US Department of Commerce published the list of exempted countries in the Federal Register, with the new tariffs taking effect Tuesday.
President Donald Trump issued an order on April 2 imposing a 100% ad valorem tariff on imported patented pharmaceuticals, biologics and related ingredients, with the stated aim of encouraging pharmaceutical production in the United States.
The tariff-exempt products include medicines for rare diseases and infertility, cell and gene therapies, antibody-drug conjugates and veterinary medicines, along with their ingredients.
The other countries receiving the exemption are India, Argentina, Cambodia, Ecuador, El Salvador, European Union member states, Guatemala, Indonesia, Japan, Jordan, Malaysia, North Macedonia, South Korea, Switzerland, Liechtenstein, Taiwan, Thailand, the United Kingdom and Vietnam.
The Commerce Department said the countries qualify for the exemption because they have, or are expected to have, trade and security agreements with the United States.