Farrell Fights 100% Tariffs, Pharma Thrives

0:00It's April 3rd. Welcome to Sydney News today, powered by AI. Australia's Trade Minister, Don Farrell, is gearing up to battle 100% tariffs that the Trump administration just slapped on are pharmaceutical exports. This latest executive order hits patented drugs hard, even though countries like the European Union, Japan, South Korea, and Switzerland only face. 15% rates. Farrell calls it unjustified, especially with our free trade deal in place for over 20 years. He's set to meet US trade chief Jamison Greer at the OECD in Paris this June to push for zero tariffs on Aussie goods, including Farma and other exports. This follows talks last month in a February trip to the States, plus embassy folks in Washington digging into the order right now. Meanwhile, Farma Giants CSL, which ships heaps of plasma product stateside, gets summarily from carbouts for those therapies. They make up most of. Their US trade. The company's already expanding with a $1.5 billion US dollar plan in Illinois,

1:06breaking ground last month. Health Minister Mark Butler insists our pharmaceutical benefits scheme stays safe under Aussie law, no matter what US lawmakers say. Opposition leader Angus Taylor wants exemptions too, and pledges to team up with the government. Trade expert Tim Harcourt sees it as a bargaining chip. Like past deal tariffs we negotiated out of. With officials hustling for fair deals in history on our side, expect more back and forth to keep trade flowing smooth between allies.