Johannesburg | Australia is evaluating the impact of potential US tariffs of 200 per cent on pharmaceutical imports, Treasurer Jim Chalmers said, while reiterating that the country’s subsidies for certain drugs are not up for negotiation.

“We’re working through” how the potential tariff might work with the industry and “the potential consequences of pharmaceuticals being caught up in these escalating trade tensions,” Chalmers said in an interview with Bloomberg Television from the Group of 20 meeting in South Africa on Friday.

Bloomberg