Pharmaceutical Tariff Projected to Raise U.S. Drug Costs by $51 Billion Annually

A new analysis projects that a 25% tariff on pharmaceutical imports would increase U.S. drug costs by approximately $51 billion each year. The analysis also found that drug prices could rise as much as 12.9% as a result. The analysis determined that a significant tariff on imported pharmaceuticals would have a substantial impact on the cost of medications for Americans. The projected $51 billion increase in annual drug costs reflects the potential financial burden that such a tariff could impose on consumers and the healthcare system. Furthermore, the analysis indicated that individual drug prices may experience a surge of up to 12.9%, potentially affecting access to necessary medications.

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Date: April 28, 2025

Author

Mark Chiang