Trump's pharma tariffs would raise US drug costs by $51 billion annually, report finds

[TallGuyJohninBKK]

More Trump tariff madness...  As the article below further notes, about 30% of pharmaceutical imports to the U.S. in 2023 were ingredients used in U.S. manufacturing and then exported or sold in the United States. Meaning slapping tariffs on those imports would in turn hurt the competitiveness of, and raise prices for, the U.S.'s own domestic drug production.

 

Encourage and promote U.S. domestic drug production, yes. But slap costly tariffs on imported drugs or raw materials and then raise drug prices for U.S. consumers, no thanks!!!

 

Reuters

 

April 25, 2025

 

• Report commissioned by main US pharma lobby
• Warns 25% pharma tariff would add $51 bln a year to US drug costs - report estimates
• If fully passed on, tariffs would boost US drug prices by 12.9%

 

LONDON, April 25 (Reuters) - A 25% U.S. tariff on pharmaceutical imports would increase U.S. drug costs by nearly $51 billion annually, boosting U.S. prices by as much as 12.9% if passed on, a report commissioned by the industry's U.S. trade group and reviewed by Reuters shows.

 

The analysis, conducted by Ernst & Young, found the United States imported $203 billion in pharmaceutical products in 2023, with 73% coming from Europe -- primarily Ireland, Germany and Switzerland. Total U.S. sales of finished pharmaceuticals that year were $393 billion.

...

Pharmaceutical products have long been spared from trade wars due to the potential harms, but he [Trump] has repeatedly threatened a 25% tariff on pharmaceutical imports. Last week, the Trump administration announced probes into pharmaceutical imports, citing national security concerns over reliance on foreign drug production.

 

(more)

 

https://www.reuters.com/business/healthcare-pharmaceuticals/us-pharma-tariffs-would-raise-us-drug-costs-by-51-bln-annually-report-finds-2025-04-25/

 

 

 

[Lacessit]

Obviously, the cost of pharmaceuticals in the USA is still not enough for the average person.

[placeholder]

7 minutes ago, Lacessit said:

Obviously, the cost of pharmaceuticals in the USA is still not enough for the average person.

Well, it's like marijuana. If it costs more, that probably means it's more effective.

[NoDisplayName]

Lucky for us, the big pharmaceuticals won't pass on the higher costs of these ingredients to the consumer.

 

These tariffs are paid by the exporting country, not taxes paid by the end user.

 

Trump is such a genius, I'ma bet this will result in a reduction in health insurance premiums!

 

Winning!©

 

 

[worgeordie]

Trump says your going to have a bit pain , now you could really

have some pain ,if you cannot afford the medizine , Biden  brought

the cost of medicines down for people , Trump puts them up ,who

voted for that.

 

regards worgeordie