Trump’s Tariffs On Pharmaceuticals Will Cost Americans $51 BILLION PER YEAR

The pharmaceutical industry is warning that Donald Trump’s tariffs on prescription drugs coming into the United States from Europe could end up costing American consumers an additional $51 billion PER YEAR. This is coming directly from the people who are setting the prices, so they are letting us know now that we are going to be even more screwed than usual when paying for prescriptions. Ring of Fire’s Farron Cousins explains what’s happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

According to a new analysis reviewed by Reuters, Americans can expect to pay an additional $51 billion per year on their prescription drugs, thanks to Donald Trump's proposed 25% tariff on all imported pharmaceuticals. Now, as it stands right now, that's just the proposal. It's something Trump has repeatedly said he wants to do. It's something he said he's gonna do. So it is something we should anticipate at this point. But given his, you know, schizophrenic nature about the tariffs on again, off again, on again off again, hot cold, up, down, we don't know. So there's still a lot of uncertainty and it may not happen. And let's hope to God it doesn't, because if it does, you're gonna pay an extra $51 billion as a country for your already most expensive in the world, pharmaceuticals. 'cause let's not forget that either the United States pays more on average than any other country for prescription drugs, and those prices could go up by 25%.

So I guess the big question is, of course, well, who did this analysis that Reuters looked at? Well, that's where things get a little shady because the group that put out this analysis was of course, the biggest pharmaceutical lobbying group in the country. Pharma ordinarily, if I'm going to mention pharma, not ordinarily, every other time I've mentioned this group, it's been because they are one of the most evil organizations in the United States today, and they lie to people about the cost of prescription drugs, specifically why we have to keep them high. But on this particular issue, they have no reason to lie. Okay? There's, there's nothing in it for them. So their analysis showing that, hey, you're gonna pay an extra $51 billion, we should believe, and here's why, because the companies that set the prices for these drugs are part of this group. And they are literally now telling us, we're gonna raise your prices and you're gonna pay an extra $51 billion a year.

And if some of these are actually lifesaving medications that you have to take every day, uh, you don't have a choice, it's either die or pay the extra money we're about to charge you. That is the basically the position millions of Americans could be in if these tariffs go into effect. Now, pharma is, of course, not only warning us about the increasing costs, they're also lobbying Donald Trump to get exemptions. You know, we, we don't want to have to pay this, please exempt our industry. They're trying to present to him like, Hey, uh, first and foremost, they can't move their manufacturing

Here to the United States because these aren't even American companies, right? It's not like an American pharmaceutical company just opened up a plant in Europe because it was cheaper. It's because that's where these companies live, okay? They're not gonna leave, they're not gonna outsource their production to us. You know, that's what you're mad that US companies did. Now you're asking foreign companies to do the same thing. It ain't gonna happen. So that's where we're at. If Trump goes through with this $51 billion extra per year on top of the, uh, what is the total cost right now? 393 billion a year we're paying. So we can go ahead and bump that up to $444 billion a year for prescription drugs, thanks to Donald Trump.