New Yorkers already face the highest health care costs of any state in the nation. And prices could soon soar even higher — if the White House chooses to impose tariffs on all imported medicines and drug ingredients, rather than narrowly targeting pharmaceuticals that are sourced from China.
The planned tariffs on medicines — which President Donald Trump could announce within days — are meant to bolster national security by ensuring that America isn’t reliant on hostile nations for lifesaving treatments. That’s a worthy objective.
But medicines from allies in Europe don’t threaten national security, so there’s no reason to slap tariffs on those imports. Doing so would harm New Yorkers and local businesses without yielding any benefits.
Medicines aren’t like other consumer goods. People can’t choose their drugs based on where they’re made. They have to use whichever treatment their doctors say will be most effective, no matter whether it’s manufactured in the Hudson Valley or the Netherlands. American leaders have long excluded medicines from tariffs for that very reason.
Six in 10 New Yorkers already say they’re concerned about being able to afford prescriptions. A sudden spike in medicine prices due to tariffs would make an alarming situation even worse.
And tariffs would increase costs for New York’s public health programs. New York’s per-capita state Medicaid spending is the highest in the nation and nearly double the national average. If all medicines are tariffed, that spending will rise even more, creating a heavy burden for taxpayers and likely leading to reduced care for those in need.
Broad tariffs would also hurt American manufacturers. Roughly one-third of the ingredients in Americans’ medicines come from Europe. In other words, even “made in America” drugs would become more expensive as a result of the tariffs.
In some cases, tariffs could even lead to drug shortages.
That’s because drug manufacturers face extensive regulatory requirements, which make it difficult to adjust supply chains. Eight in 10 U.S. biotech firms say it’d take them at least a year to find different suppliers for crucial drug ingredients, while nearly half say it may take two years. During that time, vastly higher costs could lead to production shutdowns. Tariffs would only worsen access problems by inflating drug costs and limiting access to treatments developed outside the United States.
Putting America first doesn’t require putting patients second. By applying tariffs only to medicines and ingredients sourced from China — not our European allies — the White House could protect national security while saving lives at the same time.
Duane Whitmer serves as the chair of the Libertarian Party of New York. The New York native is a citizen activist, small business owner, and practicing accountant.
This article originally appeared on Rockland/Westchester Journal News: Donald Trump’s potential tariffs on medicines will hurt New Yorkers | Opinion
Reporting by Duane Whitmer / Rockland/Westchester Journal News
USA TODAY Network via Reuters Connect
