CSL and some of the country’s other big pharmaceutical companies could be targeted in any expansion of the Trump administration’s tariffs, Health Minister Mark Butler has warned, after Australian medicines were left out of the sweeping trade barriers announced by the White House late last week.
His comments came as Australian healthcare stocks were caught up in a global sharemarket rout on concerns that the US tariffs would drive up costs. The chief executives of two of Australia’s biggest ASX-listed biotechs warned that Trump administration policies were driving investors away.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
Michael Smith is the health editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com
