US President Donald Trump says he is preparing to announce a “major” tariff on pharmaceuticals in an expansion of his damaging trade war that would hit $1.6 billion in annual Australian exports.
“We are going to tariff our pharmaceuticals and once we do that they’re going to come rushing back into our country because we’re the big market,” he said in a televised address to the National Republican Congressional Committee on Tuesday (Wednesday AEST).
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.