US EditionTrump threatens to impose up to 200% tariff on pharmaceuticals ‘very soon’
UNITED STATES, JUL 8 – Tariffs of up to 200% aim to reduce US reliance on foreign drug production with a one-year grace period for manufacturers to relocate, officials said.
- President Donald Trump revived his threat to impose tariffs of up to 200% on pharmaceutical imports, announcing the policy plans recently in the U.S.
- The announcement followed a Commerce Department investigation launched in April into pharmaceutical imports under Section 232 for national security concerns.
- Trump stated importers would have about a year to a year and a half to adjust before tariffs apply if medicines and related products must be imported.
- He explained the tariffs aim to bring overseas drug companies back to the U.S., saying, "we're the big market," while industry groups called these tariffs counterproductive.
- This policy could increase drug prices and insurance premiums but may also accelerate domestic pharmaceutical manufacturing and reduce foreign dependence.
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Trump has flagged 200% tariffs on Australian pharmaceuticals. What do we produce here, and what’s at risk?
Tanya Dol/ShutterstockUS President Donald Trump’s proposed tariffs on Australia’s pharmaceutical exports to the United States has raised alarm among industry and government leaders. There are fears that, if implemented, the tariffs could cost the Australian economy up to A$2.8 billion. That’s both in direct exports and as inputs to third countries that produce drugs also hit by tariffs. The proposed tariffs come amid growing pressure from pharma…
castanet.net+24 Reposted by 24 other sources
Canadian pharmaceutical industry alarmed after Trump floats 200 per cent tariff
An pharmaceutical industry representative says Canada likely isn't the main target of U.S. President Donald Trump's threat to impose a 200 per cent tariff on pharmaceutical imports — but his plan could still put parts of the Canadian sector in peril.
·Kelowna, Canada
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Coverage Details
Total News Sources155
Leaning Left30Leaning Right17Center28Last UpdatedBias Distribution40% Left
Bias Distribution
- 40% of the sources lean Left
40% Left
L 40%
C 37%
R 23%
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