US EditionDonald Trump Threatens to Double Taxes on Australia's Second Biggest Export
AUSTRALIA, JUL 8 – President Trump plans a 200% tariff on Australian pharmaceuticals with a 12-18 month grace period for manufacturers to relocate production to the US, officials said.
- US President Donald Trump proposed a 200 per cent tariff on pharmaceuticals, a major Australian export to the US, while allowing manufacturers time to relocate production to avoid the tariff.
- Copper may see a 50 per cent tariff as well, with both products previously exempt from US tariffs pending investigations.
- Trump stated, 'We're going to give about a year, a year and a half to come in, and after that, they're going to be tariffed,' indicating a grace period before high tariffs are implemented.
- Chalmers criticized the plan, stating that the tariffs are 'bad for the US, bad for Australia and bad for the global economy.
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The Straits Times+2 Reposted by 2 other sources
Australia 'urgently seeking' details on Trump drug tariff plan
Australia is “urgently seeking more details” on US President Donald Trump’s threat to raise tariffs up to 200 per cent on pharmaceutical imports, Australian Treasurer Jim Chalmers said on July 9.
·Singapore
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Chalmers Responds to Trump’s 200 Percent Pharmaceutical Tariff Threat
Treasurer Jim Chalmers has said the Labor government will not make concessions on the Pharmaceutical Benefits Scheme (PBS), despite the looming threat of new U.S. tariffs on Australian pharmaceuticals. On July 8 (Washington time), U.S. President Donald Trump announced plans to impose tariffs of up to 200 percent on pharmaceuticals imported into the United States, along with a 50 percent tariff on copper. Amid concerns over the potential impact o…
·New York, United States
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Total News Sources14
Leaning Left3Leaning Right5Center0Last UpdatedBias Distribution63% Right
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- 63% of the sources lean Right
63% Right
L 38%
R 63%
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