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.
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