President Donald Trump's tariffs on goods from Canada, Mexico, and China could exacerbate existing drug shortages in the U.S., increase healthcare costs for patients, and threaten struggling generic drug manufacturers. The tariffs, set to take effect on Tuesday, have prompted warnings from drug trade groups who say generic drugmakers cannot absorb the new costs and may be forced to exit markets. The tariffs also raise concerns about the supply chain for pharmaceutical products and medical devices, potentially leading to shortages and higher prices
President Donald Trump's steep tariffs on Canada, Mexico and China could worsen existing drug shortages in the U.S. and raise health-care costs for patients, some drug trade groups warn.Trump on Saturday announced he would impose a 25% tariff on nearly all goods shipped from Canada and Mexico and a 10% charge on imports from China.on Canada, Mexico and China could worsen existing drug shortages in the U.S.
The Healthcare Distribution Alliance, which represents 40 drug distributors, has also called for the Trump administration to reconsider including pharmaceutical products in tariffs. In a statement Sunday, the group said tariffs would strain the pharmaceutical supply chain and"could adversely affect American patients," whether that is through increased medical product costs or manufacturers leaving the market.
Pharmaceutical Research and Manufacturers of America, which represents pharmaceutical companies, said in a statement that it shares Trump's goal of ensuring the U.S. maintains its"global leadership in biopharmaceutical innovation and manufacturing."The U.S. also relies on overseas manufacturing for medical devices, with many key components and finished products being sourced from countries such as China, Mexico and India.
DRUG SHORTAGES TARIFFS HEALTHCARE COSTS GENERIC DRUGS PHARMACEUTICAL INDUSTRY
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