Here's your Forbes Daily Briefing for Friday, November 15th.

Today on Forbes, Trump promised to make your medicines cheaper.

His tariffs will make them more expensive.

During the recent presidential campaign, President-elect Donald Trump repeatedly promised to lower drug prices,

to the point where he falsely claimed credit

for capping insulin prices, a policy actually enacted by the Biden administration.

He's also pledged to hike in tariffs across the board, making it the centerpiece of his economic

policy. At a campaign event in October, he said, quote, to me, the most beautiful word in the

dictionary is tariff. But Trump can have one or the other, not both. And if his incoming

administration succeeds in enacting the tariffs he's touted on the campaign trail, the end

result will be higher drug prices for consumers and a slowdown of innovation

in developing new therapies. Trump has promised a tariff between 10 to 20 percent on imports from

most countries, with tariffs on Chinese goods at a minimum of 60 percent, and tariffs on Mexican

imports ranging from 25 to 100 percent. Jack Zhang, director of the Trade War Lab at the University of Kansas, said that, historically,

medications have been spared from such tariffs.

But this time around, Trump's proposing a universal tariff that would hit pretty much everything.

The United States imports about $10.2 billion a year worth of pharmaceuticals from China alone,

according to the Atlantic Council.

That means heart medication, cancer treatments, and antibiotics,

as well as over-the-counter pain relievers like ibuprofen and cough syrup, will all be more

expensive with universal tariffs.

Even domestic manufacturers rely on global supply chains, in particular for active

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