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AAP
AAP
Sam McKeith

Australia to cop deeper impact from new US meds tariffs

United States Donald Trump Australia CSL Lukas Coch Mark Butler Stephen Duckett
Donald Trump is whacking yet another tax on imported goods: a 100 per cent levy on pharmaceuticals. (Lukas Coch/AAP PHOTOS)

US President Donald Trump's fresh tariff hike on branded pharmaceuticals could dampen investment and research in Australia's $2.6 billion export industry.

On Friday, Mr Trump said the US would place a 100 per cent tariff on branded or patented pharmaceutical product imports from October 1  unless a pharmaceutical company was building a manufacturing plant in the US.

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