Trump’s tariffs on pharma sharpen challenge for India’s policymakers

Last week, US President Donald Trump provided another policy shock that reverberated across the world when he announced that his administration would impose a 100 per cent tariff on branded or patented pharmaceutical products, a 50 per cent tariff on kitchen cabinets, bathroom vanities and associated products, and a 25 per cent tariff on heavy trucks from October 1. Of course, the pharma tariffs created the biggest ripples. The US accounts for almost 40 per cent of Indian pharmaceutical exports, and until now, pharma exports were exempt from the 50 per cent tariffs imposed by the Trump administration on Indian goods. Not surprisingly, India’s pharma stocks took a severe hit on Friday. The Nifty Pharma index, which is designed to reflect the behaviour and performance of the pharmaceutical s