New US Tariffs to Hike Drug Prices
President Trump’s announcement of impending “major” tariffs on imported pharmaceuticals threatens to end decades of low-cost global medicine trade. This action follows recently implemented tariffs on other imports and aims to bolster domestic manufacturing. The tariffs, potentially exceeding previous levels, could significantly impact the US pharmaceutical market, especially given India’s substantial role as a supplier of generic drugs. The move is part of a broader trade war and is expected to be announced shortly. The high volume of imported medicines—$213 billion in 2024—makes the potential impact substantial.
John Q. Hosedrinker