The US will impose a 100 per cent tariff on Australian pharmaceuticals from October 1, jeopardising an estimated $2 billion export industry and targeting the cornerstone Pharmaceutical Benefits Scheme (PBS).

President Donald Trump said on September 26 that he would only spare the tariffs if pharma production shifted to the US.

In a post to Truth Social, Mr Trump said he would be "imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company is BUILDING their Pharmaceutical Manufacturing Plant in America".

Australia is a major global exporter of vaccines and blood products. It also imports about $3.5 billion worth of US medicines annually under a free trade arrangement.

Australia's key pharma companies include CSL which manufactures flu shots and other produ

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