US EditionTariffs are quietly driving up drug prices—here's how it hurts you most
- Tariffs on pharmaceutical imports, especially on active pharmaceutical ingredients , have raised drug prices in the U.S. As of 2023 and 2024.
- This situation results from the U.S. Applying low tariffs under 2% on finished drugs but higher rates on APIs, which make up about 80% of imports from India and China.
- Increased drug costs affect patients most, especially the uninsured and Medicare recipients, by raising premiums and out-of-pocket spending despite some insulation from PBMs and formularies.
- A 2023 Commonwealth Fund report states that those paying retail prices are most impacted by tariff-driven price hikes, which can cause medication nonadherence and widen health disparities.
- Policymakers must carefully balance tariffs on pharmaceuticals as these can inflate prices, reduce access, and disproportionately affect vulnerable groups, while options include boosting domestic API production and expanding Medicare negotiation power.
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