Trump imposes 100% pharmaceutical tariffs

The new trade policy targets brand-name drug imports and associated ingredients in a major expansion of the 'America First' agenda.

While the administration claims the move will eventually lower costs, budget experts warn it could be the most inflationary action in decades.

Exemptions may be granted to companies that agree to specific domestic production and pricing requirements.

International partners, including Australia, have expressed concern over the potential impact on global supply chains and medicine prices.