It’s really happening!!!
Provided these are on drugs that can be manufactured by at least one manufacturer in the U.S. easily and that multiple additional manufacturers are capable of entering the market quickly this is a solid idea that should move jobs home and shorten the supply chain on items that a long supply chain is very undesirable for.
If there are drugs that are not manufactured in the U.S. that it takes long time to gear up for, or cannot be manufactured in the U.S. one is dealing with a potential disaster.
I’d be interested in the insights of someone who knows a good deal about patents and more about micro-economics than I do (I do have an A.B. in economics, although I haven’t used it much, so I know a little bit and remember knowing more).
I wonder how many of the pharmaceutical factories in Puerto Rico (where many different prescription drugs were made before being “off shored” to India and other foreign nations) are still in existence but “mothballed”. The pharmaceutical companies would be wise to quickly start the REPATRIATION process.
It’s a bad idea.
You don’t want American patients fearing for their drugs (and lives) running wild in the streets or overwhelming the telephones lines to Congress.
I think Trump means add a federal surcharge on shipments of American drugs to cheapskate foreign countries, just as the Canadian guy raised the price of Canadian electricity sent to the USA.
If the US pays $10 a pill and a European country pays $2 a pill, Trump would add an $8 surcharge on each pill destined for that country.
‘ This is huge!’
Certainly is if true.
Over 700 billion spent on pharmaceuticals a year.
Expect some pain.
Bkmrk
We already pay higher prices for prescription drugs than almost any other country. That is directly the result of pharmaceutical companies renting legislators.
Big Pharma went with the arbitrage business model of "3rd world manufacturing costs and 1st world prices" a long time ago. The tariffs will not improve that model.
Enforcement of Sherman anti-trust and Robinson-Patman laws are needed. I see no indications that this is even being considered.
Big Pharma will simply continue to rape and pillage their customer base and pass through the costs of the tariffs. The consequences will be unpleasant in both short and long term.
Opps, maybe I shouldn't have said that.
“Dead or alive, you’re coming with me.” RoboTrump
I love this guy!
(no homo)
How do you tariff your own pharmaceuticals? Wouldn’t you tariff the foreign countries drugs imported into the US? If so, the Medicare/Medicaid budget problems get worse along with average Rx prices.
Please lets just go back to making our own
This should send the DOW down another 2000 points tomorrow.
We’ll need some pharmas for the bloodbath in the market coming tomorrow.
Doubting Thomas thread. Man the hell up you wussies. 47 is doing what needs to be done. You’re not the President! This IS our war.
I admit, this concerns me some. I’m a pharmacy tech, and very few drugs we dispense are made here. I’m also a transplant recipient and am on tons of meds.
We’ll see what happens...
Everything seems to be on the table... except offshored IT work. Why aren’t we putting huge tariffs on that?
The majority of Drugs should be made here. No reason it can’t happen.
Expect democrats to SCREAM blood murder, part of the deal they made to get Obamacare into law was that they would not negotiate with Pharma or attack them on prices....
Prepare for the howls.