A report by Indian media outlet Business Standard said the US Department of Commerce has published the list of beneficiary countries in the Federal Register. Imports of these medicines or ingredients from countries other than those on the list will be subject to a 100 percent tariff.
Economy
US grants 100% tariff exemption on specialized medicines to 19 countries including Bangladesh
The tariff-exempt products include medicines for treating rare diseases, medicines used to treat infertility, cell and gene therapies, antibody-drug conjugates and veterinary medicines. Related ingredients for these products will also be covered by the benefit.
Besides Bangladesh, the beneficiary countries include India, Argentina, Cambodia, Ecuador, El Salvador, European Union countries, Guatemala, Indonesia, Japan, Jordan, Malaysia, North Macedonia, South Korea, Switzerland, Liechtenstein, Taiwan, Thailand, the United Kingdom and Vietnam.
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Earlier, on April 2, President Donald Trump ordered a 100 percent tariff on patented pharmaceuticals, biologics and related ingredients. The move was taken to increase production of these products in the United States.
The US Department of Commerce said the listed countries will receive this tariff benefit due to existing or future trade and security agreements with the United States.