Australian drug exporters hope to dodge US President Donald Trump's 100 per cent tariffs on pharmaceuticals
Australian drug exporters are hoping they’ve dodged a bullet as US President Donald Trump fires off his latest round of tariffs targeting the pharmaceutical industry.
Health Minister Mark Butler says there’s no certainty that Australian blood and plasma exporters will be stung by America’s new 100 per cent tariffs on pharmaceuticals.
“It’s not clear that this is going to have a huge impact on our sector. Obviously there will be some companies captured by it,” Butler said.
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By continuing you agree to our Terms and Privacy Policy.The Federal Government is still trying to determine whether major Australian exporter CSL, which has operations in the United States, will be exempt from the sweeping tariff measures.
The uncertainty comes as Trump continues his aggressive trade policy approach, with the pharmaceutical sector now in the crosshairs of his latest tariff announcements.
Australian companies with significant exposure to the US market are closely monitoring developments as they await clarity on which exporters will be affected by the dramatic tariff increases.
Originally published on 7NEWS
