WEST PALM BEACH, Fla. — WPTV is staying on top of tariffs after President Donald Trump announced Wednesday he is pausing "reciprocal" tariffs for dozens of nations while increasing tariffs on China to 125%.
This comes after Trump suggested Tuesday evening that the U.S. could impose additional tariffs on medicine entering America.
WATCH BELOW: Why consumers 'could really be stuck' paying higher prices for meds
WPTV reporter Matt Sczesny looked into drug costs and spoke to people already paying less for their prescriptions.
One recent study found that $3 billion worth of prescription drugs in the U.S. are manufactured in Canada, and that figure is separate from the thousands who order their medications directly from Canada.
"It costs $300 and something for a three-month supply, where if I had gotten the same three-month supply here, it would be $1,100 a month, if not more," John Doyno told WPTV.
Doyno contacted WPTV after we asked you to share your concerns and questions about tariffs.
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WPTV met up with him Wednesday as he told us about the diabetes medications he buys from Canada and has shipped to him in Florida.
He admits it makes him uneasy to think those savings could go away.
"I don't know what's going to happen when my few months' supply runs out because they're talking about putting tariffs on the new drugs," Doyno said.
In his effort to correct trade deficits, the president is making it clear he intends to slap a tariff on the pharmaceuticals produced in other countries.
WATCH BELOW: Dr. Brian Strow at PBAU speaks about tariffs impacts on meds
WPTV spoke Wednesday with Dr. Brian Strow, the dean of Palm Beach Atlantic University's business school, who said there is some uncertainty about the tariff and how big pharma will react.
"That's a tough one to dodge," Strow said. "You don't start making new pills in the United States tomorrow. There's a pretty significant supply chain that would have to be created, new factories would have to be built."
He said that likely means more expensive medications if the tariffs happen.
"Consumers could really be stuck paying higher prices, pretty significantly higher prices on drugs for the foreseeable future," Strow said.
Read more of WPTV's coverage on how tariffs could impact prices on everyday goods:
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COFFEE COSTS: How tariffs could affect your cup of joe
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How will Trump's proposed tariffs impact domestic prices?
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How will tariffs affect home, car insurance prices?
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