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The Guardian - AU
The Guardian - AU
National
Stephanie Convery and earlier Caitlin Cassidy

Trump tariff announcement wipes $1bn from CSL value – as it happened

Signage for CSL is seen at the CSL Global Headquarters and Centre for Research and Development centre in Melbourne
Sharemarket giant CSL has lost billions in value after Donald Trump announced 100% tariffs on pharmaceuticals entering the US. Photograph: James Ross/AAP

What we learned today, Friday 26 September

And that’s where we’ll leave you this evening. Here’s a snapshot of what happened today:

  • Australian medical companies, including struggling global biotech company CSL, have lost billions in value after Donald Trump announced 100% tariffs on pharmaceuticals entering the US.

  • The health minister, Mark Butler, said the government promises to do “everything” it can to protect the pharmaceutical benefits scheme.

  • Butler said the tobacco black market is punching a “very serious hole” in Australia’s public health goals and the government’s revenue.

  • The Trump administration’s move to impose 100% tariffs on pharmaceuticals is “shocking but unsurprising”, says the Coalition, opposing the decision.

  • The prime minister, Anthony Albanese, arrived in London on Friday morning (AEST) before the Global Progress Action Summit, a gathering of some of the world’s progressive leaders and policy experts.

  • The Australian mining giant Fortescue will partner with four Chinese companies to wipe out its 3m tonnes of direct emissions by 2030

  • In a speech to the United Nations Security Council, Penny Wong said that while AI has extraordinary potential, it also presents significant dangers if it isn’t kept in check.

  • An Australian doctor is among participants from 10 countries across the world sailing a motor-cruiser to Gaza in a bid to send humanitarian aid to starving Palestinians.

  • A new report says anti-Palestinian racism has become widespread in Australian schools and is being used to “prevent and silence” the discussion of the war in Gaza.

  • The Therapeutic Goods Administration has recalled two more sunscreens for making SPF claims that may be inaccurate.

  • A Qantas flight from Sydney to Auckland landed with emergency services on standby this morning after reports of a fire onboard.

Thanks for your company today. Look after yourselves and have a lovely weekend.

Updated

Advanced Skin Technology responds after sunscreens pulled from sale

Advanced Skin Technology has responded to the news we brought you earlier that the Therapeutic Goods Administration (TGA) has recalled two of its sunscreens due to doubts about their SPF claims.

The company confirmed it was pulling the Aspect Sun Physical Sun Protection SPF50+ and Aspect Sun Tinted Physical SPF50+ products from shelves.

A spokesperson said:

While we are awaiting the full completion of independent testing, initial results suggest that the SPF level of the two products ... is unlikely to meet the labelled SPF rating.

As a brand committed to sun safety and skin health, we are not satisfied with these outcomes and wish to act swiftly. No other products in the Aspect Sun range are impacted, and these remain available for sale.

We will continue to work closely with the TGA and provide updates as our investigation progresses.

Updated

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