Healthcare costs in the US will increase following the imposition of a sweeping 25 per cent tariff plus an unspecified penalty on Indian goods, experts from the pharmaceuticals and medical devices industry said on Thursday.
President Donald Trump on Wednesday announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.
Profits for Indian pharmaceutical firms may decline, and research and development may stagnate. However, for the medical devices sector, as long as the gap between the duty on China and India is over 15-20 per cent, there are positive prospects for exports to the US, according to experts.
