Hat are tariffs? A: Tariffs are a tax on goods and services

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Addressing the video, Komisyon nasyonal pou dezame a prezante zam ak minisyon ilegal yon sitwayen remèt komisyon an, hat are tariffs?

A: Tariffs are a tax on goods and services imported from one country to another.

They are frequently used in international trade by governments to raise revenue, exert political pressure, or protect their competitive advantages.

Q: How might tariffs affect prices of drugs imported from Canada?

A: The new Trump presidential administration has announced it will add a tariff to the cost of products imported from Canada.

This could include pharmaceuticals, and many other products.

When enacted, the price of personal prescriptions imported from Canada could increase due to the added tariffs.

Q: What is the current status of the tariff decision on pharmaceuticals imported from Canada?

A: The tariffs on Canadian products were first announced to take effect on Feb. 4, 2025, but were subsequently delayed and pushed back to Mar. 4, 2025, when they took effect.

Presumably, this will include prescriptions for personal use.

Q: What can U.S. residents do if the tariffs take effect on imported pharmaceuticals from Canada?

A: Needed prescriptions may still be less expensive than U.S. prices - even with the tariff - if ordered from licensed Canadian pharmacies.

Consumers should check with their Canadian pharmacy if there are cost-saving alternatives, such as having their orders shipped from other countries with lower tariffs.

You can find a list of licensed Canadian pharmacies here.

Q: Will there be an effect on medicine purchased in the U.S.?

A: U.S. drug manufacturers that buy raw materials from foreign countries also face the prospect of tariffs on those products.

In fact, according to Congressional testimony, the U.S. is heavily dependent on foreign manufacturers for its pharmaceuticals - with at least 45% of finished drugs coming from abroad.

This could also result in increased drug prices in the U.S., on top of the 2025 price hikes already enacted on pharmaceuticals sold in the U.S.

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