Source link : https://las-vegas.news/trump-pharma-tariff-menace-raises-specter-of-shortages-value-hikes/
The pharmaceutical {industry} is bracing for chaos if President Trump follows via on his menace to impose “a major tariff” on prescription drug imports.
Tariffs would disrupt worldwide provide chains, drive corporations to resolve whether or not to cross elevated prices on to sufferers and exacerbate current drug shortages.
The administration desires extra drug corporations to onshore their manufacturing, however consultants mentioned such a course of would take years, whereas the ache from tariffs might be way more instant.
“We’re going to be announcing very shortly a major tariff on pharmaceuticals,” Trump mentioned Tuesday, with out elaborating on particulars.
He mentioned it’s a “tremendous problem” that “the United States can no longer produce enough antibiotics to treat our sick.”
Trump on Wednesday introduced a 90-day pause on most of his country-specific “reciprocal” tariffs, however Treasury Secretary Scott Bessent mentioned that might not apply to sector-specific tariffs resembling prescribed drugs.
The administration can also be holding in place escalating tariffs on imports from China, which had been raised to 145 p.c on Wednesday.
Trump indicated the pharmaceutical tariffs might vary anyplace from 50 p.c to 200 p.c.
Administration officers have indicated the mechanism for tariffs on prescribed drugs could be totally different than the worldwide and country-specific tariffs up to now unveiled after which largely…
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Author : LasVegasNews
Publish date : 2025-04-14 10:53:00
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