By Admin 
Trump tarifs effect: US President Donald Trump has announced that a long promise made to put his tariff on pharmaceuticals will be fulfilled soon. During the Fund Resting Program organized for House Republican on Tuesday without sharing any additional information, Trump said, “We are going to put up big tariffs on pharmaceuticals soon.”
He said that if we do this that those companies will return to our market. This is because we are big markets. According to Bloomberg, President Trump has been expressing his grief over the lack of domestic medicine production for a long time. In such a situation, Trump has been repeatedly promising to put tariffs for more production of medicines in the country.
Pharmaceutical companies will have tariffs
In March, he said that the White House will soon announce the tariff on pharmaceuticals. With this, he had indicated that America would not be able to stay out of this region for a long time. His remarks have been made at a time when the tariff imposed on countries around the world by Trump has created a furore in the global stock market including American.
If the tariff is announced on pharmaceuticals by Trump, it will have a widespread impact on Indian pharmaceutical companies exporting to America. Speaking to the experts of the drug sector, the Reuters said, most of the generics or popular medicines are sent to the US in the US. This is currently surcharged on this. Whereas India is levied a tax of 10% on medicines being exported from America.
Which companies will be affected?
According to Reuters, about one -third of India’s total drug exports are exported to the US. In March 2024, Biocon and Mumbai based Lupin in Bengaluru earned 44% and 37% from the US. Laurus Labs, a Hyderabad -based Indian multinational pharmacy and biotechnology company, also earned around 17% from the North American market.
According to Reuters, Sun Pharma, India’s largest drug manufacturer, had earned 32% of its total earnings in America in the last financial year. Apart from this, other firms such as Dr. Reddy, Aurobindo Pharma, Zydus Lifescienes and Gland Pharma also have a lot of export in America.
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