Trump announces 100% tariff on branded or patented drugs from 1 October
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More news: The Coalition said it "strongly opposes" new US tariffs on pharmaceutical exporters announced this morning by President Donald Trump.
The party called it a "shocking but unsurprising development", and criticised Prime Minister Anthony Albanese's lack of "strong direct relationship" with Trump.
What they said: "It is deeply concerning that Australian pharmaceutical exporters will be subject to harmful tariff arrangements from 1 October," the Coalition said in a media statement.
"The 100 per cent tariff announced today puts this critical trade at risk, as well as the jobs thousands of people it employs and the savings Australians have invested in this sector.
"... While other leaders are able to pick up the phone to the President, Anthony Albanese has not established such a relationship."
"... We remain ready to work constructively with the Government to protect Australian pharmaceutical manufacturers, safeguard the PBS [Pharmaceutical Benefits Scheme] and uphold Australia’s interests in international trade and public health.
"This is yet another issue the Prime Minister must address in his meeting with the US President in October, but he should not wait until then. Ambassador Rudd should be working in earnest to seek an immediate reprieve for Australian exporters."
Trump announces 100% tariff on branded or patented drugs from 1 October
The news: Donald Trump has announced that the US will impose a 100% tariff on branded or patented pharmaceuticals from 1 October.
The context: In July, the Trump administration confirmed plans for tariffs of up to 200% on pharmaceuticals, but said companies would be given time to reshore supply chains before they come into effect.
What they said: Posting on Truth Social, Trump said: "Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America.
"'IS BUILDING' will be defined as, 'breaking ground' and/or 'under construction.' There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started. Thank you for your attention to this matter!"
The sources: Truth Social, Coalition media statement
