Drugmakers Expedite Shipments to the U.S. Ahead of Tariffs
Two European-headquartered drugmakers indicated they are sending as many of their medicines across the Atlantic as possible. Michael Erman, Maggie Fick, and Lisa Baertlein reported for Reuters on March 27. The firms expressed fears that President Donald Trump's April 2 tariffs announcement could include products made in Europe.
Trump has called April 2 "Liberation Day," with promises to roll out a set of tariffs or taxes on imports from other countries, AP News' Wyatte Grantham-Pilips reported on March 31.
Meanwhile, a survey conducted by Black Book Research illustrated concerns among healthcare supply chain professionals, pharmaceutical executives, distributors, and medical equipment manufacturers about the financial and operational disruptions caused by recently imposed tariffs on imported goods from Mexico, Canada, and China.
Black Book Research released key findings of the new study in a press release last month. One finding was that 164 of the 200 survey respondents predicted that hospital and health system costs would surge by at least 15 percent in the next six months due to increased import expenses.
Additionally, 69 percent of the respondents estimated that pharmaceutical costs would rise by at least 10 percent because of the China tariff on active pharmaceutical ingredients (APIs).
Some respondents reported actively seeking domestic or alternative international suppliers to offset higher costs.
On March 30, Trump answered questions about tariffs on Air Force One. "The tariffs will be far more generous than those countries were to us," Trump said. He indicated that "all countries" may be hit with tariffs.
