Australian government ‘urgently seeking more detail’ after Trump flags 200% tariffs on foreign pharmaceuticals

3 months ago

Global trade tensions linked to unpredictable and expanding US levy regime a ‘substantial concern’, Jim Chalmers says

Labor is making urgent representations to the White House about Donald Trump’s threat to impose 200% tariffs on drug imports to the US, an announcement Jim Chalmers says is very concerning for the Australian economy.

The US president said on Wednesday that the punishing new border levies would come with a transition period that could last more at least a year, after sustained pressure from the US pharmaceutical industry over price controls on common drugs in countries like Australia.

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Continue reading…Global trade tensions linked to unpredictable and expanding US levy regime a ‘substantial concern’, Jim Chalmers saysFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastLabor is making urgent representations to the White House about Donald Trump’s threat to impose 200% tariffs on drug imports to the US, an announcement Jim Chalmers says is very concerning for the Australian economy.The US president said on Wednesday that the punishing new border levies would come with a transition period that could last more at least a year, after sustained pressure from the US pharmaceutical industry over price controls on common drugs in countries like Australia.Sign up for Guardian Australia’s breaking news email Continue reading…