US President Donald Trump has indicated a tough stance on the import of medicines. He says that tariffs of 200% or even more can be imposed on imported medicines. Trump argues that this decision will re-boost drug manufacturing within the US and strengthen the domestic industry. However, he has also clarified that about 12 to 18 months will be given to implement the tariffs to give companies an opportunity to prepare for this change.
India’s concern increased
According to a report by the Economic Times, this decision can prove to be challenging for India. India is considered to be the largest supplier of generic medicines in the world. If such a heavy duty is imposed in the US, Indian pharmaceutical companies may suffer serious losses and their share in the US market may be affected.
Who is the real target?
However, experts believe that the Trump administration’s biggest focus is on China. A large part of medicines and their raw materials (Active Pharmaceutical Ingredients – APIs) come from China. It is believed that the primary objective of this tariff policy is to put pressure on China, but its impact can also have a negative impact on the pharmaceutical industry of countries like India.
Trump’s 200% tariff plan will increase the crisis on America as well, medicines will become expensive
US President Donald Trump may impose a 200 percent tariff on pharma in the coming time. This may affect the export of pharmaceutical products, organic chemicals and medical equipment from India. Also, medicines may become expensive in America as well.
Tariff on pharma as well
US President Donald Trump is preparing to impose a 200 percent tariff on medicines coming from abroad as well. This will affect all those countries like India that supply medicines to America. Although, India has been kept out of this for now, but in the coming time its effect will be seen on India as well. But if this tariff is imposed on India as well, then it will affect its pharmaceutical, organic chemicals and medical equipment exports. At the same time, America will also suffer due to the tariff, the price of medicines will increase there. There may be a shortage of stock.
According to the AP report, the Trump administration has proposed to impose heavy duty on imported medicines. Officials have publicly imposed duties of up to 200 percent on some medicines. Experts say this policy could increase prices and disrupt the supply chain.
