Donald Trump to levy tariffs on Pharmaceuticals too

Washington (US) – Pharma products were not included in American President Donald Trump’s tariff policy. But now he has declared that soon he is going to levy a hefty amount on pharmaceutical products.

Trump said, while other nations place restrictionson Pharma Companies to keep the prices of medicines low. There these companies agree to sell the medicines at low prices. This is not the case in America. The medicine which is available for $88 (Rs 7,628) in London; in America it is sold at $1,300 (Rs 1,12,696). Now this will stop. Now when this tariff is levied on the pharmaceutical company for import on that medicine, it will be an incentive for the Pharma Company’s return to America. As America has a large market share. If this does not take place then foreign Pharma Companies will have to pay huge taxes.

40% generic medicines are exported from India to America

According to America’s Food and Pharm Administration out of the Generic Medicines imported by America 40% Medicines are from India. The medicines exported from India include, medicines for increasing immunity and preventing disease, antidepressant, and medicine for the heart disease. Increase in tariffs means the patients will have to pay more for their medicines. This will increase the issues the American people will have to face.

India charges 10.91% on medicines imported from America. But America does not charge anything on the medicines America imports from India. Earlier when Trump increased the tariffs on importshe had excluded pharma products.