Donald Trump's reciprocal tariff is dangerous for the US!
US President donald trump is adamant about the reciprocal tariff to be imposed on india from next month. He does not seem to be backing down from this step. However, this reciprocal tariff will not only affect india but also America. Its effect can be seen widely on the American health system in particular.
In fact, more than half of the generic medicines sold in America i.e. cheap medicines are indian medicines. Most of the poor in America get cured due to these medicines. In such a situation, due to the reciprocal tariff, the companies making these medicines will be forced to leave the American market and its effect will be directly on the poor sick people of America.
America will suffer losses worth billions of dollars
According to a report published on BBC, out of 10 prescription medicines in America, 9 are medicines imported from countries like India. This is the reason why America benefits billions of dollars every year from these cheap medicines. According to a report by consulting firm IQVIA, in 2022, indian generic drugs saved the US $219 billion. Now if these indian companies withdraw from the US market due to tariffs, then the US could lose several hundred billion dollars every year. The same report states that 60 percent of the medicines prescribed for mental health in the US are made in India.
indian companies will also suffer losses
It is not that only the US will be harmed by Donald Trump's reciprocal tariff. indian pharma companies are also likely to suffer huge losses from this. According to the GTRI report, india exports medicines worth about $12.7 billion to the US every year, the biggest thing is that it has to pay almost no tax on these medicines. But, after the reciprocal tariff, a tariff of about 11 percent may be imposed on the exports of these companies, due to which they may face huge losses.
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