It followed Trump's announcement that he would impose tariffs - which are government taxes on foreign imports - on India by 2 April, in retaliation to India's tariffs on American goods. Goyal wants to stave off tax increases on India's critical export industries like medicinal drugs. Nearly half of all unbranded medicines taken in the US come from India alone. Generic drugs - which are cheaper versions of brand-name medications - imported from countries like India make up nine out of 10 prescriptions in the US.
torsdag 13. mars 2025
US tariffs on India will be a bitter pill to swallow
With Donald Trump's tit-for-tat tariffs on India looming next month, millions of Americans may have to brace for steeper medical bills. Last week, Indian Commerce Minister Piyush Goyal made an unscheduled trip to the US for discussions with officials, hoping to strike a trade deal.
It followed Trump's announcement that he would impose tariffs - which are government taxes on foreign imports - on India by 2 April, in retaliation to India's tariffs on American goods. Goyal wants to stave off tax increases on India's critical export industries like medicinal drugs. Nearly half of all unbranded medicines taken in the US come from India alone. Generic drugs - which are cheaper versions of brand-name medications - imported from countries like India make up nine out of 10 prescriptions in the US.
It followed Trump's announcement that he would impose tariffs - which are government taxes on foreign imports - on India by 2 April, in retaliation to India's tariffs on American goods. Goyal wants to stave off tax increases on India's critical export industries like medicinal drugs. Nearly half of all unbranded medicines taken in the US come from India alone. Generic drugs - which are cheaper versions of brand-name medications - imported from countries like India make up nine out of 10 prescriptions in the US.
