Trump: Will Announce ‘Major’ Tariffs on Pharma ‘Very Shortly’
Trump: Will Announce ‘Major’ Tariffs on Pharma ‘Very Shortly’
“We are going to be announcing very shortly a major tariff on pharmaceuticals,” President Donald Trump says at a National Republican Congressional Committee Dinner.
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Trump suggests that pharmaceutical companies will leave China once they hear about new tariffs.
They won't.
Inelastic demand in action.
It’s why healthcare should be free.
Trump thinks inelastic demand is when people want non-stretchy pants. I think he legitimately thinks this will happen and is just stupid.
For a start my understanding is that China doesn't actually export much end product pharmaceuticals, it tends to export lots of the chemical precursors. So if companies moved their production to the US they would find that a large amount of the precursors they need now have 104% tariffs applied and they can't compete with production in countries with less insane trade policies regardless of what tariffs go on the end products...
Right. A lot of our finished product comes from India.
India's Sun Pharmaceuticals is the 4th largest pharma manufacturer in the world.
Funny how it'll be the opposite, they'll leave USA to make money elsewhere lmaoo