Trump's pharma tariff sets up flashpoint ahead of Albanese's Washington trip
Trump’s pharmaceutical tariffs threaten a $2 billion export industry and test Australia’s resolve to defend its Pharmaceutical Benefits Scheme.
US President Donald Trump has slapped 100% tariffs on pharmaceuticals, setting up a major flashpoint with Prime Minister Anthony Albanese just weeks before the pair meet in Washington.
Both sides of Australian politics have declared the Pharmaceutical Benefits Scheme (PBS) — which has long angered American medical giants — non-negotiable in talks with Washington.
Major Australian pharmaceutical companies are playing down the potential impacts of the decision on drug prices in Australia, though the tariffs are expected to raise prices in the US.
The Albanese government has pointed to an apparent exemption for companies with capital investment in the US, saying it could protect many pharmaceutical giants operating in Australia.
