U.S. pharmaceutical companies have strongly criticized Australia's AU$18 billion Pharmaceutical Benefits Scheme (PBS), calling for President Donald Trump to impose punitive tariffs on the country.

The pharmaceutical industry argues that PBS, which subsidizes medicines for millions of Australians, has hurt American exports and devalued U.S. innovations in medicine, the Sydney Morning Herald reported.

PBS explained

The PBS works by negotiating lower prices for medicines with suppliers, making medications more affordable for Australians. The scheme also focuses on listing the most cost-effective versions of medicines when multiple options are available, ABC News reported.

The PBS cost taxpayers AU$17.7 billion in the last financial year and made 930 different medicines more affordable. Thanks to the program, Australians can access life-saving drugs at AU$31.60 per........

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