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

The worker makes urgent representations about the threat of Donald Trump to bring 200% tariff to drug imports to the United States, and Jim Chalmers is very concerned about the Australian economy.

In a statement on Wednesday, US President, the US pharmaceutical industry on common drugs in countries such as Australia, after the continuous pressure on the price controls, the new punishment new border taxes will come with a transition period that can last at least one year, he said.

“We will announce something in drugs very soon,” Trump said.

“We will give people to go in about one year, year, one and a half years, and after that, they will be described if they need to bring drugs to a very high rate of 200%.”

This week, Trump, which delayed the abolition of a pause called “retaliation tariffs karşı against more than 100 countries until August 1, announced its plan to hit the US imports with 50% tariff.

Australia’s copper exports to the United States is worth 50 million dollars per year and make up less than 1% of the total sales of metal.

However, Australia exports approximately 2.5 billion dollars to the US health products every year – every year, approximately 40% of drug exports.

This week, Guardian Australia reported that some of the most influential lobbying groups in Washington pointed to the US as an unjust evidence of “free loading ına to retaliate and internal production incentives within the scope of 18 billion dollars of drug benefits to US exporters of Australia.

PBS maintains the prices of about 1,000 widely used drugs with supply agreements negotiated with pharmaceutical companies to access life -saving drugs.

The treasurer said that the plan to bring tariffs to foreign drugs and copper was “about developments”.

“Our pharmaceutical industry is much more exposed to the US market, so we are looking for more details about what is announced,“ Chalmers said to the Chalmers ABC.

“But as it has been several times before, I want to clarify once again, our pharmaceutical benefits plan [we are] willing to trade. “

Lobby groups, including the US Chamber of Commerce and Pharmaceutical Research and American manufacturers, told US Trade Representative Jamieson Greer that the system is a discriminatory and “socialized medicine ..

Chalmers said Trump’s increasing global trade tensions due to the unpredictable and expanding tariff regime are “an important concern için for Australia.

“After Covid, it poses a risk for the progress of the world in our economies,” he said.

“We have really clarified a few times, these tariffs are bad for Australia. Bad for the United States. They are bad for the global economy.

“These developments were sometimes unpredictable. There was an element of volatility and uncertainty injected into the global economy.”

This week, Trump sent requests to 14 US trade partners, including Japan and South Korea, and warned them the deadline for August 1.

Australia had not received a letter on Wednesday, but Trump marked that the next “short time” would be sent.

“According to letters sent to various countries yesterday, in addition to the letters to be sent for today, tomorrow and the next short time, the tariffs will begin to be paid on August 1, 2025,” he said.

“There was no change on this date and there will be no change. In other words, all money will be paid and paid from 1 August 2025 – No extension will be given. Thank you for your attention on this issue!”

US Trade Secretary Howard Lutnick said CNBC expects CNBC to be fulfilled for a while in late July or early August.