Trump's EU Trade Deal "Win" Likely To Send Prescription Drug Prices Skyrocketing

Donald Trump's EU trade deal is likely to send the cost of drugs way up, adding between $13-19 billion in extra costs, much of which could be passed on to consumers.

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Pharmaceuticals used to be exempt from tariffs, but not anymore thanks to the deal-making skills of President Donald Trump.

That’s right, you could soon be paying even more for medicine imported from Europe, and access could be limited. Trump's trade deal with the European Union is likely to send the cost of drugs way up, adding between $13-19 billion in extra costs as branded drugs will be subjected to Trump’s 15% tariff, much of which could be passed on to consumers, according to an analyst speaking to Reuters.

The added costs could raise prices for consumers unless pharmaceutical companies take action to mitigate the impact of the tariffs, one of the analysts said.

They also noted, “President Donald Trump said earlier this month, before negotiating the bilateral deal, that pharmaceutical tariffs could be as high as 200%.”

Medicine is the largest European export “to the United States by value and the EU accounts for about 60% of all pharmaceutical imports to the U.S.,” according to Reuters.

Trump’s EU trade deal is said to generally screw over Americans least able to pay, while benefiting the wealthy in yet another example of Trump’s radical shift of tax burdens to the poor and middle class.