Australia deeply concerned over US pharmaceutical tariff threats ...Middle East

Trump recently announced plans to impose a 200 per cent tariff on pharmaceuticals and a 50 per cent levy on copper imports, with pharmaceutical companies given a transition period to relocate production to the US. Chalmers emphasised that while Australia’s copper exports to the US are minimal, the impact on pharmaceuticals could be severe.

The US has previously criticised Australia’s Pharmaceutical Benefits Scheme (PBS), which subsidises over 900 medicines, as anti-competitive. Chalmers reaffirmed the government’s commitment to protecting the PBS, stating, “We will not trade away or do deals on the PBS in trade negotiations.”

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