Economy

Trump Threatens 100% Tariff on Pharmaceutical Companies

Trump has announced a 100% tariff on branded pharmaceuticals and their active ingredients, threatening drug makers that fail to strike deals to lower US prices — though generics, which account for over 90% of US medicines sold, are exempt for at least a year. Australia has already pushed back, with Health Minister Mark Butler declaring the government is "not negotiating" on consumer drug price protections. Trump's sons are separately under scrutiny for using a Florida drone company, Powerus, to pitch weapons sales to Gulf states currently under attack from Iran.

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Sources

Trump threatens 100% tariff on US drug makers that don’t strike deals to lower prices

The Guardian · Apr 2

Australia says it won’t raise drug prices after Trump’s 100% tariff on pharmaceuticals imported into US

The Guardian · Apr 2

Trump unveils 100-percent tariff on drugs to push for pharmaceutical deals

Al Jazeera · Apr 2

Firm backed by Trump sons tries to sell drone interceptors to Gulf states being attacked by Iran

The Guardian · Apr 3