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US President Donald Trump has announced that we are going to put heavy tariffs on medicines soon. Trump said that his aim is to bring companies making drugs abroad back into the US and promote domestic medicine industry.
Trump said that other countries put a lot of pressure to keep the prices of drugs low. There these companies sell cheap medicine but this does not happen in America. Once these pharmaceutical companies are targeted, all these companies will return to America.
If America also decides to put tariffs on medicines, it will also affect India. Indian pharmaceutical companies send 40% of zerinic medicines to the US every year.
Trump said- Drug in London for $ 88, US $ 1300 in America
Trump said that medicines are made in other countries and for this you have to pay a higher price. The drug that is sold in London for $ 88 is being sold in the US for $ 1300. Now all this will end.
The US President said that pharma companies will return by putting tariffs, as America is a big market. If this does not happen, foreign pharmaceutical companies will have to pay heavy tax. He has not given the date when and how much tariffs will be made on Trump medicines.
Expert said- America is more damaged by tariff
After this announcement by Trump, market experts have warned that this may increase the prices of drugs and affect the supply chain. David Ricks, CEO of Pharma Company Elli Lily, told the BBC that tariffs would affect R&D (research and development), which can stop the development of new drugs.
According to the New York Times, most of the cheap generic medicines in the US come from India and China. Patients will have to bear the loss of getting expensive medicine, which will increase the difficulties of the people of America.
According to the US Food and Drug Administration, about 40% of all the generic drugs used in the US are sent from India. Drugs exported from India contain antibiotics, antidepressants, and heart disease drugs.
India makes generic medicines cheaply, saving the US healthcare system every year. According to media reports, in the year 2022, the US had saved $ 219 billion from India’s drugs.
America does not put tariffs on medicines right now
Trump recently announced the “Liberation Day” tariff on 2 April. Under this, the US had imposed 10% baseline tariff on every country from April 5. From April 9, different countries like Tit i.e. reciperook tariff. In both these tariffs, the drug industry was exempted.
The US has announced 26% tariffs on goods imported from India. It has come into force from today. But the Trump administration does not impose any tariff on medicines coming from India or any other country.
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