A task force of the Executive Yuan handling Taiwan-US trade yesterday said that the impact of new US tariffs on patented drugs is “controllable,” as Taiwan’s pharmaceutical exports to the US are generic.
The comments followed an executive order signed on Thursday by US President Donald Trump imposing tariffs of up to 100 percent on imports of patented drugs, citing national security concerns under a Section 232 investigation.
The order sets a 20 percent tariff until April 2, 2030, for companies with approved plans to establish production in the US, while waivers apply to firms with agreements on pricing and domestic production.
Photo: CNA
The task force in a statement issued yesterday said that 86.5 percent of Taiwan’s pharmaceutical exports to the US, valued at NT$8.47 billion (US$264.9 million), are generic drugs and therefore not currently affected.
However, the order states that the tariff-free status of generic drugs would be reviewed within one year.
The remaining 13.5 percent, or NT$1.32 billion in patented drugs, involve companies that have already planned US-based production, it added.
“Overall, the impact on Taiwan’s pharmaceutical industry is controllable, and the government will continue to work closely with industry stakeholders to respond,” the task force said.
The task force said it would continue to engage with Washington to ensure preferential treatment for generic drugs is maintained.
In a separate statement, the Taiwan Generic Pharmaceutical Association said the short-term impact would be limited, though long-term effects on innovative drug development warrant attention.
Some Taiwanese companies, including Bora Pharmaceuticals and PharmaEssentia, have already begun or committed to production in the US, the association said.
Actor Darren Wang (王大陸) was sentenced to six months in prison, commutable to a fine, by the New Taipei District Court today for contravening the Personal Data Protection Act (個人資料保護法) in a case linked to an alleged draft-dodging scheme. Wang allegedly paid NT$3.6 million (US$114,380) to an illegal group to help him evade mandatory military service through falsified medical documents, prosecutors said. He transferred the funds to Chen Chih-ming (陳志明), the alleged mastermind of a draft-evasion ring, although he lost contact with him as he was already in detention on fraud charges, they said. Chen is accused of helping a
SECURITY: Starlink owner Elon Musk has taken pro-Beijing positions, and allowing pro-China companies to control Taiwan’s critical infrastructure is risky, a legislator said Starlink was reluctant to offer services in Taiwan because of the nation’s extremely high penetration rates in 4G and 5G services, the Ministry of Digital Affairs said yesterday. The ministry made the comments at a meeting of the legislature’s Transportation Committee, which reviewed amendments to Article 36 of the Telecommunications Management Act (電信管理法). Article 36 bans foreigners from holding more than 49 percent of shares in public telecommunications networks, while shares foreigners directly and indirectly hold are also capped at 60 percent of the total, unless specified otherwise by law. The amendments, sponsored by Chinese Nationalist Party (KMT) Legislator Ko
UNREASONABLE SURVEILLANCE: A camera targeted on an road by a neighbor captured a man’s habitual unsignaled turn into home, netting him dozens of tickets The Taichung High Administrative Court has canceled all 45 tickets given to a man for failing to use a turn signal while driving, as it considered long-term surveillance of his privacy more problematic than the traffic violations. The man, surnamed Tseng (曾), lives in Changhua County and was reported 45 times within a month for failing to signal while driving when he turned into the alley where his residence is. The reports were filed by his neighbor, who set up security cameras that constantly monitored not only the alley but also the door and yard of Tseng’s house. The surveillance occurred from July
‘SAME OLD TRICK’: Even if Beijing resumes individual travel to Taiwan, it would only benefit Chinese tourism companies, the Economic Democracy Union convener said China’s 10 new “incentives” are “sugar-coated poison,” an official said yesterday, adding that Taiwanese businesses see them clearly for what they are, but that Beijing would inevitably find some local collaborators to try to drums up support. The official, speaking on condition of anonymity, made the remark ahead of a news conference the General Chamber of Commerce is to hold today. The event, titled “Industry Perspectives on China’s Recent Pro-Taiwan Policies,” is expected to include representatives from industry associations — such as those in travel, hotels, food and agriculture — to request the government cooperate with China’s new measures, people familiar with
RSS