U.S. Drug Costs Could Rise $51 Billion Annually with 25% Pharmaceutical Tariff

A recent analysis indicates that a 25% tariff on pharmaceutical imports could increase U.S. drug costs by approximately $51 billion each year. The study projects that this tariff could also raise drug prices by as much as 12.9%. The analysis centers on the potential economic impact of implementing a 25% tariff on all pharmaceutical products entering the United States. Researchers found that American consumers would likely bear the brunt of these tariffs, leading to a substantial increase in the overall cost of prescription medications. The projected $51 billion increase in annual drug costs reflects the cumulative effect of the tariff across a wide range of imported pharmaceuticals. The 12.9% price hike represents the maximum potential increase consumers could face, varying depending on the specific drug and its import source.

Newsflash | Powered by GeneOnline AI
Date: April 28, 2025

Author

Mark Chiang