US President Donald Trump has started a trade war. Trump announced that the US is soon going to impose heavy tariffs on medicines. Due to which there has been a stir in the stock market all over the world. After this announcement, different countries and pharmaceutical companies have expressed their concern. In which the leaders of Australia and the European Union have expressed their objection against the increasing tariffs.
Want to promote the domestic pharmaceutical industry
Donald Trump said at the National Republican Congressional Committee (NRCC) program in Washington on April 8, 2025 that his aim is to encourage companies making medicines abroad to set up their factories in America and promote the domestic pharmaceutical industry. The US government believes that this will increase the production of medicines in America and benefit the country’s economy.
The price of medicines may increase
This decision will also affect India. Indian pharmaceutical companies send 40% of generic medicines to the US every year. The US has announced a 26% tariff on goods coming from India. It has come into effect from today. Experts say that due to this, the supply of medicines in the world will be greatly affected. This will make it expensive to manufacture and order medicines, which may increase their prices.
Major changes will be made in the pharma sector
Earlier, Trump had announced the tariff on Liberation Day on April 2, when no changes were made in the pharma sector. But let us tell you that he had said that it will soon be started at a level that no one would have seen before. Trump can also make a big announcement regarding the tariff today itself.
