When the second Section 232 deadline lands, which parts of Asia's pharmaceutical trade are actually exposed, and which are sheltered? The carve-out has left the region deeply uneven. This report maps it, heading by heading and origin by origin.
Exposure is decided on three independent axes, and most published analysis stops at the second. Answer three questions and see what the proclamation does to your shipment.
Drawn to true scale, because the gap between the lanes is the story. Tap a column to see what sits behind it.
Country of origin and company agreement status are separate axes. A company takes the lower of the two.
Colour encodes net exposure on 29 September, the finding of the report, rather than the headline ceiling. Click any market.
Click any milestone to expand it. Dates in red are announced rather than promulgated.
Built on the text of Proclamation 11020 and its four annexes, the BIS notice of 13 May 2026, and the Federal Register record, cross-checked against eight contemporaneous practitioner alerts.
Page through the whole thing below, then take the PDF with you. No cost, no paywall.
“The question our readers keep asking is not what the rate is. It is whether the rate applies to them. Answering that properly meant building a grid rather than writing a reaction.”