US EditionBig Pharma’s Big Tariffs
AUSTRALIA, JUL 10 – Tariffs of up to 200% on pharmaceuticals could disrupt $2.2 billion in Australian exports to the US and raise drug prices, while encouraging US manufacturing relocation, analysts say.
- US President Donald Trump has proposed a 200 percent tariff on imported pharmaceuticals, potentially affecting exports from countries like Australia.
- The tariff threat stems from Trump's push for more pharmaceutical manufacturing in the US and follows months of industry and government discussions about trade barriers.
- Australian pharmaceutical exports to the US totaled $2.2 billion last year, making pharmaceuticals Australia's third-biggest export category to the US after beef and gold.
- Analysts caution that imposing a 200 percent tariff could significantly raise manufacturing expenses, reduce profit margins, disrupt supply chains, and ultimately result in medication shortages and increased costs for consumers in the United States.
- Australia faces uncertainty from these tariffs, with government officials urging caution, while reports suggest Australia should not retaliate but carefully monitor future trade negotiations.
21 Articles
21 Articles
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