US President Donald Trump has signalled his administration will place a tariff on imported pharmaceuticals, a policy that is expected to directly hit Australia’s second-largest export to the US.Speaking at a Republican Congressional Committee dinner, the President said: “We are going to tariff our pharmaceuticals and once we do that they’re going to come rushing back into our country because we’re the big market.”The news sent shares in CSL - one of Australia’s largest and most successful companies with a market capitalisation of $119 billion - crashing as much as 5 per cent on the Australian Securities Exchange before regaining ground to hover 3.4 per cent lower at $233.35. —————
Ath in the box seat.. manufacturing drugs in the US ..
ATH Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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