President Donald Trump’s proposed tariffs on imports from China and our North American neighbors are more than political prattle. They’re a real threat to the U.S. pharmaceutical industry, trade groups warn, one likely to result in medication shortages and higher prescription drug costs, with patients footing the bill.
The White House on Feb. 1 announced a 10% tariff on Chinese imports, as well as a 25% tariff on goods from Canada and Mexico, in response to “the extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl.” Within about 48 hours, Canada and Mexico had been granted monthlong pauses. Still, pharma distributors and medtech manufacturers alike were quick to slam the new administration’s expected impact on industry and individuals.
