Trump tariffs may increase drug prices and worsen shortages, caution groups

(MENAFN) Leader Donald Trump’s sharp tariffs on Canada, Mexico and China could exacerbate current drug shortfall in the US, increase health-care prices for sick people and put money-tight generic drug manufacturers in risk, several drug trade groups alert.

On Saturday, trump declared that he would enforce a 25 percent tariff on almost all products exported from Canada and Mexico in addition to 10 percent tax on shipments coming from China, all of which were due to go into effect on Tuesday. Both Mexico as well as Canada announced that the tariffs would be postponed for nearly one month.

In spite of this, the planned import tariffs come as the US suffers from an unexampled deficit of significant medication covering a range from injectable cancer treatments to generics, or lower-cost versions of brand-name medications, which compelled hospitals and sick people to ration their medications. It also comes due to the fact that many US citizens struggle with the steep prices of prescription medications.

The US highly depends on other nations for drugs and medications, specifically when it comes to generic drugs. These medicines are included in 90 percent of US’ prescriptions, that’s why tariff could possibly put many sick people who can afford their medications in risk. 

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