Australia rules out using PBS as a bargaining chip after pharmaceutical tariffs threatened

Trade Coalition Spokesman Kevin Hogan said the threat to the pharmaceutical industry was “failed ın in Australia’s relationship with the United States.

Hogan said in a statement, “I do not believe that the Prime Minister has done everything in his power to advance this important relationship. The coalition has successfully negotiated the US tariffs while in the government,” he said.

“Australia’s economic and security relationship with the United States of the United States is one of the most important. However, Australian exporters faced uncertainty without any solution because tariffs were applied at the beginning of this year and did not give a sound fighting for them.”

Hogan said that the coalition will work with Albanian to support Australia’s economic and strategic interests in the “critical relationship with the United States.

In March, the PBS was on the fire line after colliding with Trump in an objection to Australia to apply punishing tariffs to Australia for subsidizing drugs for American medical giants and millions of patients.

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The PBS helped to reduce the cost of $ 17.7 billion in the financial year to taxpayers and the cost of 930 different drugs. This means that Australians can buy drugs that save thousands of dollars of life up to $ 31,60 per script, after negotiating with the drug company to secure the best agreement for taxpayers.

Pharmaceutical research, the industry’s lobby group, and the US manufacturers of America claimed that he threatened market competitiveness by describing PBS as “terrible and discriminatory” in March.

Meanwhile, Trump said that the copper tariff produced by Australian companies BHP and Rio Tinto in various countries may be 50 percent.

When a reporter asked what the ratio on these products will be, he said, iz We will make 50 percent of the tariff on copper ”.

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Shortly after the cabinet meeting, the Trade Secretary Howard Lutnick, who spoke to CNBC, concluded that his department’s investigation into copper was concluded and the tax is “End of July – Maybe 1 August”.

Rio already has a copper mine in the United States, and in Arizona a joint attempt with BHP to open another.

Although the copper tariff has long been a telegraph, it has been threatening to raise an industry that exists on a combination of stable imports from the most powerful trade allies of the country for decades.

Trump’s directive also scanned the world for the raw material required to increase the electric vehicle output and electricity network capacity, as the US and the rest of the world expected a dramatic increase in industrial metal demand for industrial metal for the next decade.

Despite industrial concerns that he can damage supply chains, increase drug shortages and increase costs for Americans, he has been talking about drugs since he started to launch his tariff agenda.

With Bloomberg

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