US drug firm Merck says existing Trump tariffs will cost it $200m this year

Merck said the projected increased costs included retaliatory tariffs imposed by foreign governments on the US, particularly those related to China. Photograph: Seth Wenig/AP

The US pharmaceutical company Merck has said it expects to pay an extra $200m (£150m) in costs this year from tariffs that Donald Trump has already imposed, including his 10% tax on imports from around the world.

Merck said the projected costs also included retaliatory tariffs imposed by foreign governments on the US, particularly those related to China.