AUSTRALIA HITS BACK at TRUMP over NEW PHARMACEUTICAL TARIFFS | They Don’t Hold Back

Name: AUSTRALIA HITS BACK at TRUMP over NEW PHARMACEUTICAL TARIFFS | They Don’t Hold Back
Uploaded: 2025-09-26T05:48:22+00:00
Duration: 2 min 42 s
Channel: Diario As
Description: Ver AUSTRALIA HITS BACK at TRUMP over NEW PHARMACEUTICAL TARIFFS | They Don’t Hold Back - Diario As en Dailymotion

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00:00Do you accept that tobacco excise increases may have pushed people into the border?

00:06Well, we'll still be working through the latest announcement from the President this morning, Australian time.

00:13Obviously, we've been aware of the Administration's intention to take action against pharmaceutical imports into America.

00:21And we've been engaging with them and making the case why we should continue with the tariff-free trade

00:27that has characterised US-Australian relations for more than 20 years.

00:32We buy more pharmaceutical products from the US by quite a distance than they buy from us.

00:38It is not in the American consumer's interest to impose a higher price on the exports from Australia to America,

00:46particularly given the degree to which their exporters to Australia benefit from that free trade as well.

00:52But we're examining the latest announcement.

00:55We're talking to companies who might be impacted by it,

00:58because obviously there are some qualifications the President mentioned this morning

01:02about whether or not a company has some capital investment plans in train in America.

01:08And a number of the companies from Australia do have that capital investment underway.

01:13But I make this point.

01:14None of these latest announcements for the US Administration make a jot of difference

01:19to our determination to protect the PBS.

01:22Yeah, we're obviously very keen to understand that because probably I think over two-thirds of our exports

01:29are blood and plasma products.

01:31We're very keen to understand the scope of the announcement this morning from the US Administration

01:37and also to the extent that it is captured.

01:40The degree to which the big company exporting those products right now

01:44will be captured by the exemption the President announced this morning.

01:48That is that they have some capital investment projects underway in the United States,

01:53which on the face of the President's announcement would exempt them from these additional tariffs.

01:58The core objective of the US Administration is to lower drug prices in their own country,

02:05and they're using tariffs as a tool to try and achieve that objective,

02:09which is a matter between the US Administration and big pharma companies,

02:13whether they're American or non-American companies.

02:16I guess our job now is to protect the interests of Australians,

02:19most importantly Australian patients,

02:22who have benefited for almost 80 years from the PBS,

02:26a great Labor legacy from the 1940s,

02:28and also to do what we can to support Australian companies

02:31who might be hit by what we regard as unfair, unjustified tariffs

02:36after 20 years of free trade.

02:37Can I have some mind balls, if that's okay?

02:40I might just jump back to the second.

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