Amid ongoing tariff discussions, there is growing concern about the potential impact on pharmaceutical costs. President Trump's halted tariff initiatives raise questions about whether these changes will effectively lower medication prices or create jobs. Experts suggest that tariffs may backfire, ultimately inflating costs instead of reducing them, with predictions that a proposed 25% tariff could raise drug prices by nearly 13%. Economists point out that most medication ingredients are sourced abroad, meaning tariffs could raise costs even for domestically produced drugs.
"One inhaler is $60 to $100 in order for me to get a breathing treatment," said Lucky Goodrich of Los Angeles.
"It's just completely different," said Bill Padula, a scholar with the USC Schaeffer Center for Health Policy and Economics.
"...the increased tariffs on active or raw ingredients that go into a drug could increase the total cost by 40%," Padula said.
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