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Trump threatens to impose up to 200% tariff on pharmaceuticals ‘very soon’
UNITED STATES, JUL 8 – President Trump aims to boost U.S. drug manufacturing by imposing up to 200% tariffs on imports, allowing a one-year adjustment period amid $212 billion in annual U.S. pharmaceutical imports.
- President Donald Trump renewed his threat to impose tariffs of up to 200% on pharmaceutical imports very soon with a grace period of about a year and a half for adaptation.
- This move follows a Commerce Department investigation initiated in April examining imports of generic, branded pharmaceutical products, and their active ingredients as part of sector-specific Section 232 probes.
- Trump argues that these tariffs will encourage overseas pharmaceutical companies to relocate production to the U.S., aiming to boost domestic manufacturing and reduce foreign dependency.
- PhRMA, the main lobbying organization for the pharmaceutical industry, criticized the tariffs as harmful, while President Trump argued that foreign drug manufacturers would return to the U.S. market due to its size and importance.
- The tariffs could contradict Trump's springtime decrees to lower drug prices and may result in higher costs and potential drug shortages in the U.S. despite the intended benefit of reshoring production.
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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 Sources153
Leaning Left40Leaning Right16Center27Last UpdatedBias Distribution48% Left
Bias Distribution
- 48% of the sources lean Left
48% Left
L 48%
C 33%
R 19%
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