Advance ZincTek (ASX:ANO) said it does not expect any negative impact on its US business at this stage after the Trump Administration announced a 200% tariff on Australian pharmaceutical companies if they fail to relocate to the US within the next 18 months, according to a Wednesday Australian bourse filing.
The company noted that at this stage, zinc oxide produced in Australia is currently exempt from these potential tariffs and is not listed together with pharmaceuticals.
The company added that its major equipment is sourced from the US, and it could "conceivably" consider relocating to the US if required, as equipment can be controlled from Australia, and the process is somewhat automated.
The company has seen recent success in moving production from Perth to Brisbane, the filing added.
The company's major competitors based in Japan and South Korea are faced with tariffs of 25% by Aug. 1, on all goods compared to zero on the company's products.
The company believes the Australian Government may reconsider its position and engage in negotiations with the Trump Administration regarding tariffs.
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