President Donald Trump announced that, as of September 24, 2018, additional tariffs of 10% were imposed on hundreds of chemical ingredients, many of which are used in the manufacturing of dietary supplements, cosmetics, and over-the-counter (OTC) drug products. Manufacturers have had to develop contingency plans and strategies for dealing with the imposition of these tariffs. Such contingency plans may include renegotiating supplier contracts; re-sourcing the ingredients; and notifying distributors and customers of disruptions, delays, or price changes. A rise in the tariff rate to 25% for these products, scheduled for January 1, 2019, has been delayed pending current negotiations with China, and during this period no exclusion requests on particular products are being accepted by the Office of the US Trade Representative.
YOUR GO-TO SOURCE FOR ANALYSIS OF ISSUES AFFECTING THE PHARMA & BIOTECH SECTORS