Trump's Tariffs Threaten Medicine Costs

 

As the moronic and vengeful Malignant Fascist imposes tariffs on dozens of countries including our closest allies, the impact of a tariff on goods from India -- specifically generic medications -- could be devastating to Americans who rely on less expensive generic drugs. From the BBC:

"Last week, Indian Commerce Minister Piyush Goyal made an unscheduled trip to the US for discussions with officials, hoping to strike a trade deal.

It followed Trump's announcement that he would impose tariffs - which are government taxes on foreign imports - on India by 2 April, in retaliation to India's tariffs on American goods.

Goyal wants to stave off tax increases on India's critical export industries like medicinal drugs.

Nearly half of all generic medicines taken in the US come from India alone. Generic drugs - which are cheaper versions of brand-name medications - imported from countries like India make up nine out of 10 prescriptions in the US.

This saves Washington billions in healthcare costs. In 2022 alone, the savings from Indian generics amounted to a staggering $219bn (£169bn), according to a study by consulting firm IQVIA.

Without a trade deal, Trump's tariffs could make some Indian generics unviable, forcing companies to exit part of the market and exacerbating existing drug shortages, experts say."  (our emphasis)

We're certain that this won't matter to the MF until it does, when the blowback among consumers and Wall Street becomes too strong.  He sees tariffs in an upside-down way, and as a means of revenge for imagined slights, which in a global economy is absurd.  Yet, it may finally be dawning on him that imposing tariffs on foreign goods impacts not only things like the stock market, but medicines and important technology from abroad that save American lives.