The Trump administration's proposed tariffs on Chinese imports could also drive up costs in the U.S. prescription drug industry. China is a "major provider" of U.S.-consumed drug ingredients, according to the U.S. Food and Drug Administration.
If implemented, the 25 percent tariffs could apply to certain ingredients used to manufacture common drugs , like insulin, antidepressants and epinephrine. Some pharmaceutical groups have expressed concern about the move's potential impact on the prescription drug market.
In a statement, the Association for Accessible Medicines said the tariffs could raise manufacturing costs and "thus higher prescription drug prices for patients in the U.S." Earlier this year, the White House released policy proposals aimed at making medicine more affordable for Americans, a goal the FDA is also taking steps to achieve.