Australia is “urgently seeking” more detail on President Donald Trump’s threat to impose 200% tariffs on pharmaceutical imports to the US, Treasurer Jim Chalmers said.

Australia is “urgently seeking more detail” on U.S. President Donald Trump’s threat to raise tariffs up to 200% on pharmaceutical imports, Treasurer Jim Chalmers said on Wednesday.

Donald Trump has threatened extraordinary new taxes on one of Australia's biggest exports to the US. The US president said he was looking to announce 200 per cent tariffs on all imported pharmaceuticals. "If they have to bring the pharmaceuticals into the country ... they're going to be tariffed at a very, very high rate, like 200 per cent."