By Blake Antrobus

Copyright news

The company’s share price fell more than 5 points to 189.82 on Friday morning and have only marginally started climbing back.

It marks a 2.52 per cent loss for CSL at the last close.

CSL exports plasma-derived therapies to the US whose main active ingredients are proteins extracted from human plasma.

In a statement, CSL said they were aware of the US President’s announcement on tariffs but were not expecting any material impact.

A spokesman added the company had a “significant” manufacturing footprint in the US.

“We are already expanding our US capabilities to meet the growing demand for our therapies and we have announced further expansion of significant, new capital investments during the next five years,” a spokesman said.

“CSL will be actively monitoring further announcements from the administration in relation to the detail of the tariffs.

“As per previous market guidance, we do not expect any material impact from these tariffs.”

Other health care groups have also recorded substantive losses as a result of the US president revealing – via Truth Social – that the punitive new levy will start on October 1.

Healthcare imaging software provider Pro Medicus suffered a 2.37 per cent loss on Friday morning, while hearing aid provider Cochlear Limited dropped 1.48 per cent and Telix Pharmaceuticals – which has commercial operations in Europe, Japan and the US – dropped 3.12 per cent.

Mr Trump announced on Truth Social all imported pharmaceutical goods would be subject to the ban unless the company was “building their pharmaceutical manufacturing plant in America”.

He clarified “building” was defined as “breaking ground and/ or under construction.”

“There will, therefore, be no tariff on these pharmaceutical products if construction has started,” Mr Trump said in the announcement.

Australia exports about $2.2bn of pharmaceutical goods to the US – more than 40 per cent of our total pharmaceutical exports of $4.9bn.

Federal government figures have already reacted with outrage over the tariff move – with the Coalition releasing a joint statement on the “deeply concerning” act.

“The 100 per cent tariff announced today puts this critical trade at risk, as well as the jobs thousands of people it employs and the savings Australians have invested in this sector,” the Coalition said in a joint statement from opposition leader Sussan Ley, health spokeswoman Anne Ruston, and trade spokesman Kevin Hogan.

“This is a shocking but unsurprising development and it is moments like this when a strong direct relationship with the President of the United States is critical to help save Aussie jobs.

“While other leaders are able to pick up the phone to the President, Anthony Albanese has not established such a relationship.”

Both Labor and the Coalition have repeatedly ruled out using the Pharmaceutical Benefits Scheme (PBS) to negotiate a tariff exemption.

Australian steel, aluminium and copper imports are already facing a 50 per cent levy, in addition to a 25 per cent tariff on cars, light trucks and automotive parts, and a baseline 10 per cent levy.