Industry Groups Fear Tariffs May Raise Drug Costs

Industry groups warn that President Donald Trump’s steep tariffs on Canada, Mexico, and China could worsen drug shortages in the U.S., increase healthcare costs, and put financial strain on generic drugmakers.

Trump announced Saturday that his administration will impose a 25% tariff on nearly all goods from Canada and Mexico and 10% from China.

Mexican President Claudia Sheinbaum on Monday said the U.S. agreed to delay the tariffs on Mexico for one month after the country pledged to increase border security. Trump has said the tariffs will remain in place until the three countries take action to stop the flow of fentanyl and undocumented immigrants into the U.S.