Source link : https://las-vegas-news.com/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, power corporations to determine whether or not to move elevated prices on to sufferers and exacerbate current drug shortages.
The administration needs extra drug corporations to onshore their manufacturing, however specialists mentioned such a course of would take years, whereas the ache from tariffs may very well be far more quick.
“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 will not apply to sector-specific tariffs similar to prescription drugs.
The administration can be retaining in place escalating tariffs on imports from China, which have been raised to 145 % on Wednesday.
Trump indicated the pharmaceutical tariffs may vary wherever from 50 % to 200 %.
Administration officers have indicated the mechanism for tariffs on prescription drugs can be totally different than the worldwide and country-specific tariffs to date unveiled after which largely paused. …
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Author : LasVegasNews
Publish date : 2025-04-14 10:50:00
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