Washington31 minutes ago
- Copy link
Trump said- Pharma tariffs are going to start very soon, that too at a level that has never been seen before.
The shares of India’s pharma companies fell to 4% on Tuesday, June 17, on Tuesday, June 17, due to a statement of tariff on drugs by US President Donald Trump.
Trump has said that he is going to impose heavy tariffs on the import of medicines soon. After this statement, the Nifty Pharma index fell 2% to 21,600 levels.
Talking to reporters in Air Force One, the US President said,
Pharma tariffs are going to start very soon, that too at a level that has never been seen before.
Granules India Lupine shares fell to 4%
The shares of Granules India, Lupin, Netcofarm and Aurobindo Pharma fell to 4%. Shares of Laus Labs and Dr. Reddy’s Laboratries also dropped more than 3%. Large names like Sun Pharma, Cipla, Glenmark and Natco Pharma also came down by 2-2.6%.
Export of drugs worth ₹ 86,200 crore from India every year
India exports drugs worth $ 10 billion (about ₹ 86,200 crore) every year from India, which is 6% of the total pharma imports of the US. In such a situation, the news of tariff scared investors.
Earlier in April, Trump spoke of pharma tariff, but later postponed it for 90 days. Now again this statement has increased uncertainty in the market.
Experts say that if the tariff is imposed then the earnings of Indian pharma companies can have a big impact, because a large part of their income comes from the US.
————————
Read these news related to Trump’s tariff …
1. Trump’s threat to impose 50% tariff on European Union: will be applicable from June 1; Said- Do not want to compromise with EU
2. Trade deal in America-China: Both reduced 115% tariff; Now US 30% and China will apply 10% tariffs on each other
3. Trump’s U-turn over tariffs on China: said- his economy in crisis; 20 days ago US imposed 145%, China imposed 125% tariff
4. Trump on backfoot in 7 days: Tariff stopped for 90 days, increased to 125% on China
6. Donald Trump announced a tariff on medicines: said- Pharma companies will come back to America, Indian companies can suffer losses
7. Trump told Apple- Don’t make an iPhone in India: If you do this, you will impose 25% tariffs; The phones that will be sold in America will be made here
Source link
[ad_3]
