The United States has announced a phased tariff plan for imported generic medicines that could have implications for pharmaceutical exporters, including India. US President Donald Trump said the policy is intended to encourage companies to shift generic drug manufacturing to the United States by imposing steep tariffs after a two-year transition period.

The announcement is particularly important for India, one of the world’s largest suppliers of affordable generic medicines and a major exporter to the US market.

Trump outlines phased tariff plan

In a post on his Truth Social platform, President Trump said the new policy will take effect from August 1, 2026. Under the plan, imported generic medicines will continue to attract zero tariffs for the first two years.

Beginning in the third year, the tariff will increase to 100%, before rising further to 200% thereafter.

Trump said the measure is designed to encourage pharmaceutical companies to establish manufacturing facilities in the United States instead of relying on imports.

He added that companies choosing not to invest in US-based production during the transition period would face the higher tariff rates. According to Trump, the existing policy governing patented, branded and innovative medicines will remain unchanged.

Why India could be affected

India is widely regarded as the “pharmacy of the world” because of its large-scale production and export of generic medicines.

Indian generic drugs account for nearly 40% of the US generic medicine market by volume. According to a Global Trade Research Initiative (GTRI) report, India exported pharmaceutical products worth USD 9.7 billion to the United States during the 2024-25 financial year, representing around 38% of the country’s total pharmaceutical exports of USD 25.8 billion.

However, the immediate impact of the newly announced tariff policy on Indian pharmaceutical companies remains uncertain.

Existing trade agreement and industry concerns

India and the United States struck a trade pact in February that states India would receive negotiated outcomes regarding generic pharmaceuticals and pharmaceutical ingredients.

Despite that provision, previous tariff threats by Trump had already raised concerns within the pharmaceutical industry over the future of affordable medicine exports from India.

Indian pharmaceutical companies supply a wide range of generic medicines used to treat conditions including hypertension, diabetes, depression, cancer, infectious diseases and mental health disorders.

According to a Financial Post report cited in the source material, around 65% of birth control pill prescriptions in the United States during 2024 were manufactured by two India-based companies — Glenmark Pharmaceuticals Ltd. and Lupin Ltd.

The FIFA World Cup 2026 final was marked by an unforgettable celebration as football, music and entertainment came together on one stage at New York New Jersey Stadium in East Rutherford, New Jersey. Ahead of Spain’s victory over Argentina, fans witnessed a grand closing ceremony followed by the tournament’s first-ever official Halftime Show, featuring internationally renowned artists and football legends.

The event showcased performances, cultural celebrations and visual spectacles that reflected the global appeal of the FIFA World Cup.

Star-studded closing ceremony opens the final

The festivities began before kick-off with streamer IShowSpeed performing his World Cup song Champions. Opera tenor Christopher Macchio followed with a rendition of America the Beautiful, while Post Malone and Swae Lee energized the crowd with their hit Sunflower.

Academy Award-winning singer Jennifer Hudson performed the United States national anthem before FIFA Music Ambassador Robbie Williams, Nicole Scherzinger and Laura Pausini took the stage to perform the official FIFA anthem Desire.

Former World Cup-winning captains Andres Iniesta and Mario Kempes later carried the iconic FIFA World Cup Trophy onto the pitch before actor Tom Cruise concluded the ceremony with a message highlighting football’s ability to unite people across the world.

National anthems and legendary introductions

Before the final got underway, Spain’s national anthem was performed by trombonist Indalecio “Inda” Bonet alongside Spanish Brass, while Argentine singer Maria Becerra delivered her country’s national anthem.

Adding to the excitement, renowned announcers Bruce Buffer and Michael Buffer introduced the teams in front of a packed stadium.

First-ever FIFA World Cup Halftime Show makes history

After a scoreless first half, the FIFA World Cup introduced its inaugural official Halftime Show, marking a new chapter in the tournament’s history.

Madonna opened the performance with her hit Music, joined on stage by Brazilian football legends Ronaldo and Ronaldinho.

The entertainment continued with The Muppets performing Seven Nation Army, followed by BTS performing Dynamite.

Actor Jason Sudeikis appeared in character as Ted Lasso before Justin Bieber performed a special version of Everything Hallelujah with football-themed lyrics.

Shakira and Burna Boy returned to perform the official FIFA World Cup 2026 song Dai Dai, having also featured during the tournament’s opening ceremony in Mexico City.

Grand finale celebrates unity through music and football

The Halftime Show concluded with an ensemble performance featuring the PS22 Chorus, a live band, The Muppets, Sesame Street characters and Coldplay frontman Chris Martin, who curated the historic production. Together they performed the original song We Dance before a fireworks display brought the celebrations to a memorable close.

The ceremony highlighted football’s global reach by combining sport, music and culture, creating one of the most elaborate entertainment spectacles in FIFA World Cup history.

Spain are the new FIFA World Cup champions after defeating Argentina 1-0 following extra time in a hard-fought final, ending the defending champions’ reign and lifting the trophy for the second time.

The match remained deadlocked until Ferran Torres found the breakthrough in extra time, scoring the only goal of the contest to hand Spain football’s biggest prize.

Ferran Torres seals Spain’s historic triumph

Spain and Argentina battled through a tense final before Torres produced the decisive moment in extra time. The goal proved enough to separate the two sides as Spain secured their second FIFA World Cup title.

The victory also brought Argentina’s successful title defence to an end after a closely contested encounter.

Lionel Messi ends campaign in tears

The defeat marked an emotional conclusion for Lionel Messi, who is widely expected to have played his final FIFA World Cup match.

After receiving his runners-up medal, the Argentina captain was seen leaving the field in tears following his team’s narrow defeat.

Trophy ceremony draws mixed reaction

The medal and trophy presentation was attended by U.S. President Donald Trump and FIFA President Gianni Infantino. Leaders from fellow tournament co-hosts Canada and Mexico were also present for the final.

Trump and Infantino were booed by sections of the crowd during the trophy ceremony.

Star-studded halftime show grabs attention

Apart from the football action, the World Cup final also featured a high-profile halftime entertainment show inspired by the Super Bowl format.

The performance included Shakira, Madonna, BTS, Justin Bieber and Burna Boy, with the show curated by Coldplay frontman Chris Martin.