Trump tariffs could raise medication costs and exacerbate shortages, drug trade groups warn

CNBC February 3, 2025
Annika Kim Constantino

Key Points

– 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.

– They also said the import taxes could strain cash-strapped generic drugmakers and distributors.

– 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.

President Donald Trump‘s steep tariffs on Canada, Mexico and China could worsen ex­ist­ing drug shortages in the U.S., raise health-care costs for patients and threaten cash-strapped generic drugmakers, some drug trade groups warn.

Trump on Saturday announced he would impose a 25% tariff on nearly...

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