TAPAH: Malaysia should be prepared for the upcoming announcement from the US regarding a "major" tariff on pharmaceutical imports, says Datuk Seri Dr Dzulkefly Ahmad.
The Health Minister said that the tariffs would likely affect export activities.
“All countries involved will feel the impact. From my side, I want to monitor closely the extent of the tariff and whether there will be any exemptions, especially for medication and drugs,” he told reporters in a press conference after the implementation of moral values ceremony and meet-and-greet with Batang Padang health workers at Tapah Hospital on Thursday (April 10).
Dr Dzulkefly said during the Cabinet meeting yesterday, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had mentioned that the pharmaceutical tariffs were in the final process before the announcement was made.
“They are waiting to see if pharmaceutical products will be excluded from the 24% reciprocal tariff hike. What we don’t understand is that this tariff affects our goods and services imported into the US so it is actually paid by American consumers.
“For example, if something previously cost RM100, it will now cost RM124. This makes our products less competitive in the US market.
“In short, this will certainly affect competitiveness and purchasing and could effect the supply side and beyond,” he added.
