Donald Trump made the announcement on Tuesday that his administration plans to implement a “major price” on medicine.
Trump reaffirmed at the National Republican Congressional Committee’s monthly political breakfast on Tuesday that the United States does not produce its own “pharmaceuticals, medicines, and other things that improve,” but instead relies on other nations. Additionally, the president asserted that American pharmaceutical prices are typically higher than those of other nations.
Trump said that the same package in our nation when compared to, like, London and other places is sometimes 10 times more, 10 times more. ” Something made in the same factory by the same company sells for$ 1,300 here,” according to the statement”. And that is finished. I said to them all that’s over.
Trump claimed that other nations are” smart” by advising pharmaceutical companies that they” can’t sell” their products if they charge more than a certain price for them.
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” We’re going to impose a tariff on our pharmaceuticals.” And once we do that, they’ll flee in droves because our nation is a big market, according to Trump. The fact that we are the “big market” is what sets us apart from everyone else.
Trump continued,” We will be announcing very soon a significant tariff on pharmaceuticals.” And when they learn that, they will leave China and will relocate elsewhere because the majority of their goods are sold here, and they will be opening up their plants all over the country.
Trump said his administration would be “announcing” the tariff on pharmaceutical companies in the future during his speech on Tuesday at the National Republican Congressional Committee’s dinner, and he described his remarks as “breaking news.”
The United States has decreased its domestic drug production over the past few decades, according to the Food and Drug Administration ( FDA ), which has led to the majority of pharmaceutical nations producing drugs in China and other nations.
The FDA stated in a 2019 statement that “in recent decades, drug manufacturing has gradually shifted out of the US. This is especially true for companies that produce active pharmaceutical ingredients ( APIs ), which are the actual drugs that are then transformed into tablets, capsules, injections, etc.
The FDA continued,” While there are many reasons for this shift, underlying factors that are frequently cited include the fact that most traditional drug production processes require a large factory site, frequently have environmental liabilities, and can employ a low-cost labor force.”
