President Donald Trump plans to impose tariffs of around 25% on auto imports as well as semiconductors and pharmaceuticals shipped to the United States as early as April 2.
As you can see below, the data is somewhat conflicting – but the bottom line is clear- India and China supply the majority of generic drugs to the US. So, especially if you buy generic drugs, get those scripts refilled TODAY! My generic blood pressure medicine comes from India. Check your labels.
China is one of the world’s leading suppliers of ingredients used to produce generic medicines, which in 2020 accounted for approximately 90% of the drugs used in the U.S., according to a brief from the Council on Foreign Relations. Source
Nearly half of all generic prescriptions filled in the U.S. in 2022 were supplied by Indian drugmakers and generated $408 billion in savings for the U.S. healthcare system for the year, according to research firm IQVIA. Source
Nearly half of vehicle sales in the US last year, including cars and light trucks, were imported from foreign countries.
While US companies, like AI chipmaker Nvidia, dominate the semiconductor industry, manufacturing of chips has long been outsourced to Asia due to cost and technical reasons over the past decades.
As for the pharmaceutical industry, the US purchased more than $176 billion of drugs and related goods in 2023, according to US trade data, making it the largest importer of pharmaceutical products that year.
European, Indian and Chinese firms could be the hardest hit. In 2023, Ireland accounted for 20.4% of pharmaceutical imports, followed by 10.8% from Germany, 8.6% from Switzerland, 6.2% from India and 3.4% from China.SOURCE
