What’s at Risk if the US Imposes Tariffs on Australian Medicines?

The potential economic impacts of US President Donald Trump’s proposed tariffs on Australian pharmaceutical exports were recently explored in a piece for The Conversation by M-VAC Research Fellow Dr Joe Carrello Trump has flagged 200% tariffs on Australian pharmaceuticals. What do we produce here, and what’s at risk?.

In this article, Dr Carrello detailed the size of the Australian Pharmaceutical export industry to the US as well as potential impacts on domestic manufacturing, research and innovation if the tariffs were implemented.

He also provided background context on the tariffs, outlining growing pressures from pharmaceutical lobby groups in the US for President Trump to use trade negotiations as a tool to make changes to the Australian Pharmaceutical Benefits Scheme (PBS) and raise Australian drug prices.

Finally, Dr Carrello explained differences between the Australian and US health systems in terms of how pharmaceuticals are assessed and subsidised which has contributed to long-held criticisms of the PBS by industry bodies.

The article garnered significant media attention, with Dr Carrello speaking to several journalists in both print and radio, including 2SM Dr Joseph Carrello - Pharmaceutical export tariffs - Tim Webster for Breakfast - Omny.fm, ABC PM Trump hits pharma imports with 100% tariff - ABC listen and ABC Radio National Australia weighs up impacts of Trump's 100% tariffs on pharmaceuticals - ABC listen