Trump Raises Drug Costs with Pharmaceutical Tariffs
Reading
President Trump put taxes on many products. These products come from almost every country in the world. He also taxed some imports like cars and metal.
Trump now wants to tax medicine. He wants to put high taxes on imported drugs. For many years, imported medicine had no tax in the U.S.
Trump wants to lower drug costs for Americans. But taxes on medicine may make drugs cost more. This could cause problems with getting medicine in the U.S.
Drug companies have factories in other countries. This helps them save money. The U.S. buys a lot of medicine from other countries.
Trump wants drug companies to make medicine in the U.S. This means no taxes on these drugs. Some companies are starting to build factories in America.
Questions
What products did President Trump put taxes on?
President Trump put taxes on many products, including imports like cars and metal.
What does Trump want to do with taxes on medicine?
Trump wants to tax medicine and put high taxes on imported drugs.
Why does Trump want drug companies to make medicine in the U.S.?
Trump wants drug companies to make medicine in the U.S. to avoid taxes on these drugs.
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