President Trump is making good on his pledge to place high tariffs on goods from China beginning today, February 4. (Tariffs on goods from Mexico and Canada have been postponed for a month, as of now.) The fallout just from the tariffs on China is likely to be bad for your health and financial well-being. Along with the price of gas, cars, and eggs if the tariffs on Canada and Mexico go into effect, prepare now for increases in prescription drug and other health care costs, reports John Wilkerson for StatNews.
Trump now acknowledges that his tariffs will cost you. Because China delivers us many prescription drug ingredients (Mexico provides us medical devices and Canada supplies gas, eggs and avocados and other produce) it’s far to assume the prices of prescription drugs will increase as well. In fact, we might end up with shortages of generic drugs if their manufacturing cost increases so much that companies can’t profit off their sale.
In addition, hospital charges could rise. Hospitals use imported gowns, syringes and other supplies. Sometimes CT and X-ray machines are imported. Consequently, people are likely to see still higher health insurance premiums.
Trump: “WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.” Trump suggested that the Canadian tariffs might lead Canada to agree to become a 51st state!
Even conservative groups are concerned about the effects of the tariffs. The US Chamber of Commerce called the tariffs a mistake. Tariffs on Mexican and Canadian goods will not address immigration or fentanyl issues, as the President has suggested.
If the Canadian and Mexican tariffs go into effect, Americans should assume those countries will retaliate. Before Trump backed off the tariffs on Canadian goods (yesterday), Trudeau had asked Canadians to boycott American goods, including Kentucky bourbon and Florida orange juice, and avoid vacations in the US.
Here’s more from Just Care:
- Trump’s health care executive orders
- Will the Trump administration support Medicare coverage of Ozempic?
- Donald Trump’s threat to Medicare and Social Security
- Programs that lower your health care costs if you have Medicare
- New study finds Medicare for all generates overall savings of more than $5 trillion
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