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Trump Tariff News: US President Donald Trump has announced the tariff. But gave exemption to pharmaceuticals. India will benefit a big benefit from this because it exports cheap medicines to America.
Donald Trump kept the pharma sector away from the tariff.
Highlights
- America exempted tariff on pharmaceuticals
- India’s great advantage of exporting cheap medicines
- Pharma area was excluded in tariff war
Washington: US President Donald Trump has once again created a stir in the world. On Wednesday, Trump has announced a reciperook tariff from White House. America will impose a base tariff of 10 percent on all countries. America has increased tariffs on many countries. According to the US, India imposes 52% tariffs on American imports, so now it will face a counter -tariff of 26 percent. But in this tariff war, there was one such thing that Trump did not dare to touch and it will give a big benefit to India. Trump has excluded the pharmaceutical area. America did not dare to put tariffs on medicines because it knows that its effect will be terrible. Apart from the tariff war, it also shows the helplessness of Trump.
A statement issued by the White House said that products like pharmaceuticals, copper, semiconductor and lumber have been exempted from tariffs. According to the 2023 data, the US imports $ 170 billion medicines every year. Countries like India have a big role in this. According to the Economic Times report, Raja Bhanu, Director General of Pharmaceuticals Export Promotion Council of India, says that India exports goods worth more than $ 8 billion to the US every year. Generic drugs are an important part of the supply.
India cures America disease
Trump knows that if he had put a tariff on medicines, it would have been a big burden on the people of America. Increased drug prices could have caused crisis in hospitals, which could lead to the American public on the streets. Trump would not like to take any such risk, especially when medical service in America is already a sensitive issue. Talking about the most exporting pharma companies from India, Sun Pharma, Aurobindo Pharma, Dr. Reddy’s Lab, Cipla and Lupine are prominent in it. These companies handle a large part of India’s total pharma export and provide cheap medicines to the US.
