PBS Not up for Debate: Treasurer’s Response to Trump’s 200 Percent Pharma Tariff Threat

Treasurer Jim Chalmers said the government was urgently seeking some more details on the US pharmaceutical tariffs.

Australia Treasurer Jim Chalmers attends a press conference in parliament house in Canberra, Australia, on July 8, 2025. David Gray/AFP via Getty Images

Treasurer Jim Chalmers has said the Labor government will not make concessions on the Pharmaceutical Benefits Scheme (PBS), despite the looming threat of new U.S. tariffs on Australian pharmaceuticals.

On July 8 (Washington time), U.S. President Donald Trump announced plans to impose tariffs of up to 200 percent on pharmaceuticals imported into the United States, along with a 50 percent tariff on copper.