4 ms·
Pharma products were previously tariff-free under a WTO agreement that is based on the principle that life-saving items shouldn't face any tariffs. Looks like t
by hubraumhugo 2y ago
Pharma products were previously tariff-free under a WTO agreement that is based on the principle that life-saving items shouldn't face any tariffs. Looks like this exemption is now also being eliminated and will probably cause the prices of drugs and treatments in the USA to skyrocket.
- stabbles 2y ago31% tariffs on Switzerland will be felt.
- alephnerd 2y agoPharma is exempted from the tariffs regime, but in that list it should also be the EU and India as well. Most medicaments in the US are sourced from EU (Ireland, Germany, Netherlands), EFTA (Switzerland as you rightfully noted as well as Denmark), and India
- deleted 2y ago[deleted]
- alephnerd 2y ago> Pharma products were previously tariff-free under a WTO agreement that is based on the principle that life-saving items shouldn't face any tariffs. Looks like this exemption is now also being eliminated Pharma along with semiconductors is still exempted. The biggest hit this has is on textiles and apparel as those were industries that have almost no NAFTA/USMCA presence anymore. Electronics will be a mixed bag as most US origin electronics assembly was already returning to Mexico due to Zero COVID in China (20-23) and Vietnam (20-21), or moving to India (26% tariff) and Malaysia (20% tariff)
- makingstuffs 2y agoWait, they can go up more!? I remember thinking prices for really basic medication in the States was insanely expensive — something which costs $0.50 in Europe would cost $3+ in Target n co
- mtalantikite 2y ago[flagged]