{"id":5429,"date":"2025-07-22T20:12:14","date_gmt":"2025-07-23T03:12:14","guid":{"rendered":"https:\/\/abovecloud.xyz\/?p=5429"},"modified":"2025-07-22T20:12:35","modified_gmt":"2025-07-23T03:12:35","slug":"trumps-pharmaceutical-tariffs-will-dig-america-deeper-into-medical-debt","status":"publish","type":"post","link":"https:\/\/abovecloud.xyz\/?p=5429","title":{"rendered":"Trump\u2019s pharmaceutical tariffs will dig America deeper into medical debt"},"content":{"rendered":"\n

President Trump\u00a0<\/a>recently announced his intent to impose a\u00a0200 percent tariff on pharmaceuticals<\/a>\u00a0to lure drug manufacturing back to the U.S. This action, if implemented, will come at great cost to millions of Americans already struggling to cover their medical bills and force them deeper into health care debt.\u00a0\u00a0<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

A\u00a0vast number of Americans<\/a>\u00a0today rely on prescription medications. Over 60 percent of adults have at least one prescription filled every year.\u00a0\u00a0

These statistics rise dramatically as we grow older. The U.S. Centers for Disease Control and Prevention found<\/a> an estimated nine out of 10 people over the age of 65 rely on these drugs to maintain their long-term health.  <\/p>\n\n\n\n

Many adults admit<\/a> to not taking their medications due to fears over cost. Almost half of adults age 50 and older \u201chave either skipped filling a prescription due to costs or know someone who has,\u201d according<\/a> to research by the American Association of Retired Persons.  <\/p>\n\n\n\n

U.S. prescription drug prices are almost\u00a0three times higher<\/a>\u00a0than those of other countries. The U.S. \u201cpays higher prices for prescription drugs than any other country in the world,\u201d\u00a0notes<\/a>\u00a0the U.S. Department of Health and Human Services.\u00a0\u00a0

In part, that\u2019s because some of the most widely used drugs in America are imported from other countries.<\/p>\n\n\n\n

Pharmaceutical imports have more than doubled in recent decades, rising<\/a> from $65 billion in 2006 to $151 billion in 2019. They include many popular drugs<\/a> that treat diseases such as rheumatoid arthritis, osteoporosis, cancer, blood clots, schizophrenia and obesity, among others.   <\/p>\n\n\n\n

The long-term goal of boosting U.S. drug manufacturing to make America less reliant on pharmaceutical production from other countries, lower drug costs and increase medication access is an important endeavor.\u00a0\u00a0

But the policies we enact to try and achieve this desired outcome must be weighed carefully to avoid creating short-term price spikes and drug shortages that could hurt millions of people.  <\/p>\n\n\n\n

Trump initially said<\/a> his tariff proposal wouldn\u2019t go into effect for another year. He has since changed<\/a> this view by indicating the U.S. may \u201cstart off\u201d with a lower tariff as early as Aug. 1, and raise it to a \u201cvery high tariff\u201d in a \u201cyear or so.\u201d  <\/p>\n\n\n\n

But experts have issued warnings about the possible impact these tariffs will have on public health, saying even a year isn\u2019t enough time for the U.S. drug industry to build the required infrastructure necessary to meet U.S. supply demands.\u00a0

\u201cThat would be potentially disastrous for every person because we need those pharmaceuticals, and it takes those companies a long time to produce them here in the U.S.,\u201d said<\/a> Afsaneh Beschloss of RockCreek Group in response to Trump\u2019s proposed tariff plan.  <\/p>\n\n\n\n

UBS analysts noted Trump\u2019s initial proposal to delay enforcement of a 200 percent tariff by 12 months still provides \u201cinsufficient time<\/a>\u201d for drug companies to relocate manufacturing operations to the U.S.. A four-to-five-year horizon is more realistic, they say.  <\/p>\n\n\n\n

What\u2019s more, research commissioned by the pharmaceutical industry lobby group PhRMA\u00a0found<\/a>\u00a0that a mere 25 percent tariff would increase U.S. drug prices by almost $51 billion.\u00a0\u00a0

Trump\u2019s tariff proposals will hurt those dependent on generic medications especially hard. That\u2019s because nearly 80 percent<\/a> of generic capsules and tablets Americans consume come from outside the U.S.  <\/p>\n\n\n\n

Analysis by Brookings<\/a> found that, given the low margins on generic prescriptions, tariff pressure could result in the discontinuation of certain drugs that, for many, are their only affordable option. <\/p>\n\n\n\n

As of last year, Americans\u00a0owed<\/a>\u00a0at least $220 billion in collective medical debt. Fourteen million owed over $1,000. Three million owed over $10,000.\u00a0\u00a0

Americans cannot absorb billions in added drug price hikes as a result of ill-designed and poorly timed tariff increases. It will place undue economic burden on those who can least afford it by creating drug shortages and impacting access to critical therapies people need to lead long, healthy lives. <\/p>\n\n\n\n

Trump\u2019s policies will be shouldered most by the elderly, the disabled and the marginalized \u2014 communities that require access to reasonably-priced prescription drugs.  <\/p>\n\n\n\n

It took decades for U.S. pharmaceutical production to move overseas; moving it back to America can\u2019t happen overnight.\u00a0\u00a0

We need measured policy approaches, not knee-jerk ones, to prevent America\u2019s most vulnerable from digging themselves further in debt to pay for medications many already can\u2019t afford. <\/p>\n\n\n\n

Reprinted from The Hill<\/p>\n","protected":false},"excerpt":{"rendered":"

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