IPOH, April 10 — Malaysia must brace itself for the United States (US) government's announcement of new tariffs that will affect pharmaceutical products.
During the Cabinet meeting yesterday, Health Minister Datuk Seri Dr Dzulkefly Ahmad said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz informed the ministers that the exemption status of pharmaceutical products from tariffs is currently being confirmed by the US.
"They are awaiting an announcement on whether pharmaceutical products will be exempted from the 24 per cent tariff… It will certainly have a knock-on effect on the supply chain and beyond.
"I do not want to elaborate further, but in short, we need to be prepared, because this import-export issue will undoubtedly affect all involved countries," he said during a press conference today after attending a Values Integration and Cordial Session with the Health Minister and health workers of the Batang Padang district at the Tapah Hospital.
Yesterday, it was reported that the US government will impose tariffs on pharmaceutical products, thereby removing them from the sector exemption list announced by President Donald Trump on April 2.
Trump said the move was necessary following actions by several countries to control medicine prices.
— Bernama
