Trump tariffs could drive up generic drug costs: 5 takeaways

Becker's Healthcare November 25, 2024
Alexandra Murphy

President-elect Donald Trump’s proposed tariffs on foreign imports could lead to higher costs for generic drugs, policy experts say.

While the tariffs would aim to boost U.S. manufacturing, experts note that most generic drugs are made overseas and tariffs could increase prices for consumers, NBC News reported Nov. 22.

Here are five takeaways:

1. If Mr. Trump imposes his proposed 20% blanket tariff on imports, the cost of generic drugs could go up. This is because few generic drugs are made in the U.S., with about half of all generics and 80% of active pharmaceutical ingredients sourced from countries such as China and India.
2. The idea behind tariffs is to encourage U.S. companies to manufacture more...

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