US President Donald Trump warned that there is a plan to install a tariff wall for pharmaceutical companies in the US. Under this, 25% tariffs can be imposed on import of medicines in the US market, which can increase the prices of American medicines by 12.9%. Due to this, the cost of medicines in the US market may increase by about $ 51 billion annually.
According to Reuters, a report has come out about this, which has been commissioned by the American Trade Group. The report reported that in 2023, the US imported $ 203 billion pharmaceutical products, of which 73% came from Europe, especially from Ireland, Germany and Switzerland. In the same year, America’s total pharmaceutical sales were $ 393 billion.
Trump’s step may further increase the fear of increasing the prices of American drugs, which will lead to additional economic pressure on patients and health services.