Trump's pharma tariff pivot hits Australian and India drugmakers
SHAUN TURTON and SAYAN CHAKRABORTY
MELBOURNE/BENGALURU -- U.S. President Donald Trump dealt Asian markets a fresh bout of volatility on Wednesday after he said pharmaceutical imports would face tariffs by "the end of the month," having earlier given a much longer time frame for the move.
Trump last week flagged a potential 200% levy on foreign medicines imported into the U.S but said drug manufacturers would be given up to a year and a half before it was implemented.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Nikkei Asia
12 hours ago
- Nikkei Asia
Critics question Russia's ability to build Kazakh nuclear power plant
Energy Worries swirl over Rosatom selection, as China's CNNC recruited for 2nd project Kazakhstan estimates it will face a shortage of 6 gigawatts of energy by 2030. © Reuters PAUL BARTLETT and NAUBET BISENOV ALMATY, Kazakhstan -- Kazakhstan's recent selection of Rosatom as consortium leader to build the country's first nuclear plant is raising worries about the ability of the Russian state-owned nuclear power agency to finance and complete the project. Kazakhstan's atomic energy agency said last month that Rosatom had a "slight advantage" over state-owned China National Nuclear Corp. (CNNC) and so was chosen to lead an unspecified group to build a two-reactor plant in Ulken, a village about 400 kilometers northwest of the commercial hub of Almaty.

Nikkei Asia
14 hours ago
- Nikkei Asia
Thai-Cambodian border clashes spread to previously peaceful areas
Thai civilians shelter in a hall in Surin province near the Cambodian border on July 25 after fleeing their homes to escape cross-border shelling. Hundreds of thousands of people have evacuated from border areas in both countries to escape the worst fighting between the neighbors in a decade. © Reuters ANANTH BALIGA and YUICHI NITTA PHNOM PENH/BANGKOK -- The cross-border conflict between Thailand and Cambodia escalated dramatically on Saturday, the third day of clashes, as the fighting spread from long-contested territory to hitherto peaceful regions. Cambodia's Defense Ministry accused the Thais of an "unprovoked and premeditated act of aggression" at 5:02 a.m., "involving the firing of five heavy artillery shells into multiple locations in Ekphap Village, Thmor Da Commune, Veal Veng District, Pursat Province."

Nikkei Asia
16 hours ago
- Nikkei Asia
China's Premier Li proposes global AI cooperation organization
Chinese Premier Li Qiang speaks during the opening ceremony of World Artificial Intelligence Conference in Shanghai on July 26. © Reuters SHANGHAI (Reuters) -- Chinese Premier Li Qiang on Saturday proposed establishing an organization to foster global cooperation on artificial intelligence, calling on countries to coordinate on the development and security of the fast-evolving technology. Speaking at the opening of the annual World Artificial Intelligence Conference (WAIC) in Shanghai, Li called AI a new engine for growth, but adding that governance is fragmented and emphasizing the need for more coordination between countries to form a globally recognized framework for AI.