News

Trump’s trade war may impact Australian medicine prices

Trump’s trade war could raise Australian medicine costs and limit availability, complicating PBS negotiations and tariff impacts.

Published

11 months ago

March 23, 2025

ticker NEWS

Trump’s trade war could raise Australian medicine costs and limit availability, complicating PBS negotiations and tariff impacts.

In Short

Concerns arise in Australia over a US-Australia trade dispute affecting medicine costs and the Pharmaceutical Benefits Scheme. Potential US tariffs could raise drug prices and impact access, despite the US arguing for higher prices to reflect drug development costs.

Talks of a trade dispute between the US and Australia regarding medicine costs have raised concerns among Australians.

The potential impact on the Pharmaceutical Benefits Scheme (PBS) and tariffs on Australian drugs entering the US raises questions about drug prices and availability.

The PBS offers subsidised medicines, maintaining low out-of-pocket costs for consumers. Drug companies must submit evidence to the Pharmaceutical Benefits Advisory Committee (PBAC), which assesses the cost-effectiveness of drugs.

Donald Trump’s imposition of tariffs could prompt a rise in medicine prices or lead to shortages. Price negotiations occur between the government and drug companies, with consumers paying a fixed co-payment regardless of the drug’s cost to the government.

The US argues the PBS undervalues innovative drugs, seeking higher prices that reflect development costs. However, the PBAC aims to keep prices low, benefiting consumers.

Tariffs on Australian pharmaceuticals exported to the US could hike prices and reduce demand for Australian-made drugs, although most medicines in Australia are sourced overseas.

Even if Australia retaliated with tariffs on US pharmaceuticals, it would likely harm access to innovative drugs and lead to increased negotiation restrictions.

While the trade negotiations’ outcome remains uncertain, it is unlikely the US can significantly influence Australian pharmaceutical pricing, especially with anticipated reductions in consumer drug costs.

News

Iran live updates: Trump Says Iran strikes to continue for four to five weeks

Published

22 hours ago

March 2, 2026

Ahron Young

What’s happening in the Middle East?

President Donald Trump says Iran’s Supreme Leader Ayatollah Ali Khamenei has been killed, with Iran now entering a transitional period under a three man leadership council
Trump says U.S. strikes on Iran could last four to five weeks, outlining objectives including destroying missile capabilities, dismantling Iran’s navy and preventing it from obtaining a nuclear weapon
The U.S. military confirms four American service members have been killed, and the White House says U.S. forces have destroyed and sunk nine Iranian naval ships
Iran says it sees “no limit” to its right to self defence and will not negotiate, as missile and drone attacks continue across Israel and Gulf states
More than 500 Iranians have been killed in U.S. and Israeli strikes, with additional deaths reported in Lebanon, Israel and the UAE
Shipping, aviation and energy markets have been disrupted, Qatar has halted LNG production, UAE stock markets have closed temporarily, and oil and gas prices have surged

News

Israel strikes Tehran anew as conflict escalates and global markets react

Israel strikes Tehran after Khamenei’s death; U.S. warns of prolonged conflict as tensions escalate in the Middle East.

Published

22 hours ago

March 2, 2026

Harvey Vargas

Israel strikes Tehran after Khamenei’s death; U.S. warns of prolonged conflict as tensions escalate in the Middle East.

Israel has launched a new wave of strikes on Tehran, following the reported killing of Iran’s Supreme Leader, Ali Khamenei. U.S. President Donald Trump has warned the campaign could last up to a month, framing the operation as a move to prevent Iran from acquiring nuclear capabilities.

Iran has retaliated with missile attacks, while its Revolutionary Guards claim responsibility for assaults on oil tankers in the Gulf. The escalating hostilities are already disrupting global shipping lanes and air travel, sending shockwaves through international markets.

With reports of the first U.S. casualties emerging and Washington declaring the Tehran operation a success, tensions across the Middle East are intensifying rapidly. The question now is how far this conflict could spread — and at what cost.

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News

U.S. and Israel strike Iran as missiles hit Gulf bases and oil surges

U.S. and Israel launch major military operation against Iran; tensions rise as conflict escalates, impacting global markets.

Published

2 days ago

March 1, 2026

Ahron Young

U.S. and Israel launch major military operation against Iran; tensions rise as conflict escalates, impacting global markets.

The United States and Israel have launched a sweeping military operation against Iran, striking leadership targets and more than 500 military sites in what President Trump has dubbed Operation Epic Fury.

Explosions have rocked Tehran, with civilians fleeing the capital as U.S. sea and air assets carry out sustained attacks. Washington says the mission is designed to prevent a nuclear armed Iran and has even called on Iranians to rise up against the regime.

Iran has retaliated with a barrage of missiles and drones targeting Israel and U.S. bases across the region, including in Qatar, Kuwait, the United Arab Emirates and Bahrain. While many projectiles were intercepted, a U.S. base in Bahrain sustained damage.

Gulf states long seen as stable hubs for global business are now directly in the firing line, raising fears of a wider regional war.

Oil prices are climbing and tankers are diverting from the Strait of Hormuz as markets react to the escalating conflict. U.S. aircraft carriers, advanced fighter jets and missile destroyers remain in position, signalling more strikes could follow.

With global leaders scrambling diplomatically, the world is watching to see whether this spirals further or shifts back to negotiations.