Mutual dependency ups the trade-war ante.
As wild stock market swings seed volatility and vitriolic barbs between President Donald Trump and various world leaders, American drug and medical industries, consumers, and hospitals are caught in the seesawing chaos. The United States imported an estimated $210 billion worth of medicines in 2024, a very different dimension of dependency than flatscreen TVs or Chinese fireworks.
Diplomatic Fireworks
The diplomatic fireworks are indeed flying pell-mell, as high US tariffs on imports of generic drugs could potentially pummel millions of Americans with increased prices. Yet, sustaining them would also incentivize American drug makers to shift production to domestic manufacturing – precisely the goal President Trump expressed on Tuesday: “When they hear that, they will leave China. Most…
