President Donald Trump announced at this week’s political fundraising dinner that he plans to impose tariffs on drugs. “We will soon be announcing major tariffs on drugs,” Trump said. Dr. Hashim Zaibak is the founder and CEO of Hayat Pharmacy and has 19 locations in the Greater Milwaukee area. He said it would be a difficult medicine to swallow. “Over 90% of over-the-counter drugs are made overseas, particularly in China and India, which will affect prices,” Zaibak said. Zaibak said even drugs that could be produced in the US often contain raw ingredients from overseas. “That extra cost must be paid by Medicare, Medicaid, commercial or the patient himself,” Zaibak said. Zaibak said the cost of the medication from the pharmacist behind the counter is likely to increase. He said generics were the biggest thing. “The US generic drug supply chain is now owned by China, so let’s face it. That’s right,” Zaibak said. “We’re not used to seeing it in the general sense, but I think it’s going to be the norm now. Unfortunately,” Zaibak said. Yale’s Budget Lab, the Center for Non-partisan Policy Research, told ABC News that a 25% tariff would raise drug prices on average by 15%. Researchers estimate that the total household expenses of $600 each year is increasing. “Increasing costs may lead to certain products being unavailable from overseas. Therefore, it can lead to shortages in people who need medicines to treat chronic diseases or care for infections,” Zaibak said. Zaibak said that a major concern for him is when tariffs on medication lead to a shortage. He said finding alternatives to a particular drug is not always simple. “My main concern is the patients. Does this affect them? Someone is taking this particular blood pressure drug and this tariff causes shortages in the market and patients really need this blood pressure drug, what will we do?” Trump said he has not yet shared tariff charges or countries, but his goal is to bring more pharmaceutical plants to the US. “At the end of the day, someone will have to pay for this. It’s another challenge, as we can make it in the US, knowing that we know that the labor costs of other countries are high, unless ultimately more and more American companies start making those products in the US. Resignation Energy announces the death of the beloved Peregrine Falcon Zkenosha Police Zero-In at the “Tavern Skimming Crew” scam bar gambling machine Scut.
President Donald Trump announced at this week’s political fundraising dinner that he plans to impose tariffs on drugs.
“We will soon be announcing major tariffs on drugs,” Trump said.
Dr. Hashim Zaibak is the founder and CEO of Hayat Pharmacy and has 19 locations in the Greater Milwaukee area. He said it would be a difficult medicine to swallow.
“Over 90% of over-the-counter drugs are made overseas, particularly in China and India, which will affect prices,” Zaibak said.
Zaibak said even drugs that could be produced in the US often contain raw ingredients from overseas.
“That extra cost must be paid by Medicare, Medicaid and commercials. [insurance] Or the patient himself,” Zaibak said.
Zaibak said the cost of the medication from the pharmacist behind the counter is likely to increase. He said generics were the biggest thing.
“The US generic drug supply chain is now owned by China, so let’s face it. That’s right,” Zaibak said.
He said he’s used to seeing branded drug prices rise 9-10% each year.
“We’re not used to seeing it in the general sense, but I think it’s going to be the norm now. Unfortunately,” Zaibak said.
Yale’s Budget Lab, the Center for Non-Participation Policy Research; He told ABC News A 25% tariff increases drug prices by 15% on average. Researchers estimate that the total household expenses of $600 each year is increasing.
“Increasing costs may lead to certain products being unavailable from overseas. Therefore, it can lead to shortages in people who need medicines to treat chronic diseases or care for infections,” Zaibak said.
Zaibak said that a major concern for him is when tariffs on medication lead to a shortage. He said finding alternatives to a particular drug is not always simple.
“My main concern is the patients. Does this affect them? If someone is taking this particular blood pressure medication and this tariff causes shortages in the market, the patients really need this blood pressure medication, what are we going to do?” Zaibak said.
Trump has not yet shared tariff fees or countries, but he said his goal is to bring more pharmaceutical plants to the US.
“When they hear that, they’ll leave China, they’ll leave elsewhere because they have to sell a large portion of their products here and they’ll leave, and they’re going to open their plants all over our country,” Trump said.
“At the end of the day, someone will have to pay for this. Unless, in the end, more and more American companies start making those products in the US, that’s another challenge because we know that our labour costs are higher than the labour costs of other countries. Historically, there’s no answer.
Top Headline
“Serious Performance”: Harley Davidson board members resign
We Energies announces the death of our beloved Peregrine Falcon
Kenosha Police’s “Tavern Skimming Crew” fraud bar gambling machine Zero-In
Cat survives three weeks of locked up in an apartment duct in Milwaukee
