On Saturday, President Trump ordered import taxes on goods from Canada, China, and Mexico, a move that could raise costs for consumers across the economy, including in health care.
Tariffs of 25% on imports from Canada (except energy) and Mexico, and 10% on goods from China take effect on Tuesday. Trump said the tariffs will remain in place until those countries stop the flow of fentanyl and undocumented immigrants into the United States.
China is a large and growing producer of pharmaceutical ingredients, and prices could go up for finished drugs if costs for their ingredients increase. Mexico is the top source of medical devices used in the U.S., according to industry group AdvaMed. Any price increases could eventually be cushioned if manufacturers move more production to the U.S. or other countries not subject to the extra taxes.
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