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Trump tariff talk wipes $24B off ASX
Posted 16 July 2025 PM
A 28 second media doorstop by US President Donald Trump warning pharmaceutical tariffs will likely be enforced at the end of July preceded a $24 billion wipeout on the Australian stock market today.
Moments before boarding an Air Force One flight, Trump told reporters on the tarmac that he was pushing ahead with pharmaceutical tariffs to pressure companies to move their manufacturing facilities to the US. Last week he flagged an extraordinary 200 per cent levy on drugs imported to America.
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Posted 16 July 2025 PM
A 28 second media doorstop by US President Donald Trump warning pharmaceutical tariffs will likely be enforced at the end of July preceded a $24 billion wipeout on the Australian stock market today.
Moments before boarding an Air Force One flight, Trump told reporters on the tarmac that he was pushing ahead with pharmaceutical tariffs to pressure companies to move their manufacturing facilities to the US. Last week he flagged an extraordinary 200 per cent levy on drugs imported to America.
To see the whole article, please login
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