Newsroom
New Zealand’s pharmaceutical sector is cautiously optimistic over the industry being granted an exemption from US President Donald Trump’s tariffs.
This week, the Trump administration announced a 10 percent overall tariff on New Zealand, claiming our tariffs and other measures equate to a 20 percent barrier on US imports. A 10 percent base tariff is being levied against all countries, with particularly high levies placed on China (34 percent), the EU (20 percent), Japan (24 percent) and India (26 percent).
There had been early indications of tariffs being imposed on global pharmaceutical industries, and remarks in the President’s speech that pharma companies would “come roaring back” to the United States “because if they don’t they got a big tax to pay”.
