Tag #Pbs (Pharmaceutical Benefits Scheme)

What are the immediate consequences of the US pharmaceutical industry's complaint against Australia's PBS, and what is its global significance?

American pharmaceutical companies are pushing for punitive tariffs on Australia due to its Pharmaceutical Benefits Scheme (PBS), which subsidizes medicines and reduces drug prices, impacting American exporters. This $18 billion scheme, according to the US industry, is "egregious and discriminatory", leading to billions in lost sales and undermining American competitiveness. The complaint was formally lodged with the US trade chief on March 11th.