But while investors felt the sting first, the true cost of Trump’s tariff tantrum will be borne by patients — the very people who rely on timely, affordable access to medicines. Trump’s move risks widening global health inequities, especially as low-income populations will shoulder the heaviest burden. At a time when ASEAN is trying to rebuild resilience after the pandemic, Trump’s tariff crusade adds another layer of uncertainty. Malaysia, as chair, has a moral duty to insist that health security be recognized alongside energy and food security as a global common. Trump’s tariffs may boost his political base, but the long-term cost will be measured in untreated illnesses, widening inequality and a slowdown in pharmaceutical innovation.