Becker's Healthcare December 31, 2024
President-elect Donald Trump’s proposal to increase tariffs on products from Mexico, Canada and China could increase pharmaceutical costs and disrupt supply, The Hill reported Dec. 31.
Mr. Trump has suggested 20% to 25% tariffs on imports from Mexico and Canada and higher tariffs on Chinese items. These three countries are among the top five which the U.S. imports pharmaceuticals, creating uncertainty for medication prices and availability.
Higher tariffs would affect about 75% of medical devices marketed in the U.S. and squeeze the already narrow margins of the generic drug market.
Three takeaways from The Hill:
1. Generic drugs are especially prone to shortages.
The U.S. imports a significant amount of active pharmaceutical ingredients for these medicines...
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