As wild stock market swings seed volatility and vitriolic barbs between President Donald Trump and various world leaders, American drug and medical industries, consumers, and hospitals are caught in the seesawing chaos.
The United States imported an estimated $210 billion worth of medicines in 2024, a very different dimension of dependency than flatscreen TVs or Chinese fireworks.
The diplomatic fireworks are indeed flying pell-mell, as high US tariffs on imports of generic drugs could potentially pummel millions of Americans with increased prices.
Yet, sustaining them would also incentivize American drug makers to shift production to domestic manufacturing – precisely the goal President Trump expressed on Tuesday: “When they hear that, they will leave China. Most of their product is sold here, and they’re going to be opening up their plants all over the place in our country.”
The threat of US tariffs against the EU has led pharmaceutical companies to strategize how to relocate production. The president had previously said Chinese pharmaceuticals would be exempt from new levies, consistent with a longstanding World Trade Organization treaty.
Still, a recent announcement of duties on imported Chinese drugs could disrupt global supply lines while dizzy-headed executives scramble to decide where jobs and production will be housed in that new landscape.
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Author: Faith Novak
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