President Donald Trump has floated the idea of higher tariffs on pharmaceutical products, though he has suggested that life-saving drugs could be spared. If they are not, the impact on many Americans could be unthinkable, according to one CEO.
Speaking to BBC World Service radio, Gareth Sheridan, the Irish CEO of Nutriband, a US health care company, noted that Ireland – which exports a lot of pharmaceuticals – makes a wide range of medications, including those used for chemotherapy and for treating heart conditions and diabetes.
“These types of treatments can’t afford a disruption in the global supply chain. You know, as a comparable situation, tariffs on automobiles: You can’t afford a BMW now? Okay, you can buy a Ford and you can still get to work,” he said.
“If you have a 25% hike on chemotherapy and you can’t afford your treatment anymore, what’s the alternative? I mean, ultimately, people are going to die and they’re going to die because they can’t afford to live.”
Remember: Last year, the United States imported $232.7 billion worth of medicinal and pharmaceutical products, based on official US data.