President Trump implemented a raft of tariffs this week. All imports are subject to a 10% import duty. Those from China are subject to a 145% tariff.
Pharmaceuticals appear to be exempt from the tariffs — for now. Drug manufacturers expect to get hit with tariffs at some point; they’re just not sure when. “We’ll be announcing pharmaceuticals at some point in the not too distant [future],” Trump said in late March.
It’s hard to see how tariffs on drugs will benefit Americans. Tariffs are just another name for taxes, after all. When government taxes something, the economy gets less of it.
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