US drug firm Merck says existing Trump tariffs will cost it $200m this year

Company’s forecast does not account for threatened ‘major’ tariff that could also be levied on pharmaceutical imports

The US pharmaceutical company Merck has said it expects to pay an extra $200m (£150m) in costs this year from tariffs that Donald Trump has already imposed, including his 10% tax on imports from around the world.

Merck said the projected costs also included retaliatory tariffs imposed by foreign governments on the US, particularly those related to China.