US EditionTrump plans a hefty tax on imported drugs, risking higher prices and shortages
The tariffs aim to reduce a $150 billion U.S. pharmaceutical trade deficit and encourage domestic drug manufacturing, but could cause shortages and higher prices, experts warn.
- President Donald Trump plans hefty tariffs on imported drugs but will delay them for a year or a year and a half to allow adjustment.
- This policy follows an April investigation into how drug imports affect U.S. national security amid a roughly $150 billion trade deficit.
- Drugmakers moved much production overseas for tax benefits but some, supported by investments from Roche and Johnson & Johnson, have begun shifting back to U.S. sites.
- Analysts note most drugmakers increased imports and stockpile six to 18 months of inventory, while even a 25% tariff could raise prices 10% to 14% as stockpiles run low.
- Experts say tariffs alone are unlikely to spur enough U.S. factory building since costs are high, implying sustained government support and systemic redesign may be needed.
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Trump plans a hefty tax on imported drugs, risking higher prices and shortages (World)
President Donald Trump has plastered tariffs on products from almost every country on earth. He's targeted specific imports including autos, steel and aluminum. But he isn't done yet. Trump has promised to impose hefty import taxes on pharmaceuticals, a category of products he's largely spared in hi...
Associated Press News
Trump plans a hefty tax on imported drugs, risking higher prices and shortages
President Donald Trump has plastered taxes on products from almost every country on earth. He’s targeted specific imports, too. But he isn’t done yet.
Trump plans hefty tax on imported drugs, risking higher prices and shortages
President Donald Trump has plastered taxes on products from almost every country on earth. He’s targeted specific imports, too. But he isn’t done yet. Trump has promised another round of hefty import taxes on a category of products he’s so…
US President Donald Trump has announced plans to impose steep import tariffs on pharmaceutical products that have been largely exempt from tariffs, a move that analysts say could raise drug prices in the US and cause shortages.
US President Donald Trump has imposed tariffs on products from almost every country in the world. He has focused on specific imports, including cars, steel and aluminum.
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