Prime Minister Anthony Albanese has declared the nation’s $18-billion pharmaceutical scheme is “not for sale”, amid fears the US may soon target prescription medications for tariffs.

The promise came as the government spruiked its pledge to cap Pharmaceutical Benefit Scheme-listed medicines at $25 a script on Thursday.

Labor has promised to cut the maximum amount patients pay for prescription medicines listed on the scheme from $30 to $25 from January 1 if it is re-elected later this year.

The Coalition was quick to match the proposal.

“Our Pharmaceutical Benefits Scheme is not for sale. Labor created it, Labor is strengthening it, and under Labor, it never will be on the negotiating table,” Albanese told ABC Radio Melbourne on Thursday.

Amid concerns that the powerful “Big Pharma” lobby group is urging US President Donald Trump to add Australian medicine manufacturers to his tariff hit list, Albanese said he would “always stand up for our national interest”.

“What we’re going to do is continue to advocate for Australia’s national interests, not the interests of Big Pharma,” he said.

“The act of increasing tariffs, of course, is always an act of self harm, putting increased costs on people who are consumers, where the tariff is imposed, increased costs on them doesn’t change the costs of Australians.

“What I’m concerned about is looking after Australians. That’s my priority, and we will always stand up for our national interest.”

Trump has already imposed blanket tariffs on steel and aluminium imports to the US. Another wave of trade penalties is expected in April.

Health Minister Mark Butler also ruled out allowing the PBS to be used as a bargaining chip in tariff discussions, saying it wasn’t the first time Big Pharma had pushed against Australia.

“Their interest is in selling medicines at top dollar,” he said.

“Our interest is in making medicines cheaper for Australians.

“We have to make it crystal clear as a government that we will not negotiate over the PBS. We will not negotiate over cheaper medicines.”

US lobby group Pharmaceutical Research and Manufacturers of America (PhRMA) claimed PBS listings dictate access to the Australian market and that “unnecessary” supplemental data requests and other administrative motions cause significant delays.

“Egregious and discriminatory pricing policies in several markets, including Canada, Japan and Korea, continue to undervalue American innovation, threaten billions of dollars in lost sales and put American competitiveness, jobs and exports at risk,” the group wrote in a submission.

IT also claimed that PBS pricing policies can have a “chilling effect” that prevents Australians from gaining fast access to new medicines.

Under Labor’s plan, four out of five PBS medicines would become cheaper, saving Australians $200 million every year and reducing the program’s patient cost cap to its lowest level in two decades.

“Cheaper medicines are good for the hip pocket and good for your health,” Butler said.

The $689 million proposal will be included in the federal budget, to be handed down on Tuesday.

Opposition Leader Peter Dutton said the Coalition had gone to the last election with a similar policy.

“We support affordable medicines,” he told 2GB radio on Thursday.

“It’s good for prevention, it’s good for people to have well-managed medication programs, and you get better health outcomes in the system.”

The Pharmacy Guild of Australia said that if the policy went ahead, prescription costs would fall to their lowest in 20 years.

“If this action had not been taken, Australians would be paying up to $50 per script in 2026,” national president Trent Twomey said.

-with AAP