Trump’s China tariffs are likely to drive up drug prices and spur shortages
Experts predict that President Donald Trump's executive order placing a 10% tariff on Chinese imports will increase the price of generic medications in the US and worsen prescription shortages.
According to Dr. Aaron Kesselheim, a Harvard Medical School professor of medicine whose research focuses on prescription prescriptions, over half of the generic medications that Americans take, such as blood thinners, antibiotics, and cancer medications, are manufactured entirely abroad since manufacturing costs are lower there.
Around 80% of the active pharmaceutical components, or APIs, used in medications are imported, which is an even higher percentage, he added.
According to data released by United States Pharmacopeia, a nonprofit organization that focuses on the safety of the medication supply...