Merck (MRK) says its 2005 outlook includes the impact of tariffs implemented to date by the U.S. government on imports from other countries, plus the tariffs imposed by foreign governments on the U.S., the most significant of which relate to China. Merck estimates the impact of these tariffs will lead to incremental costs of approximately $200M, which will primarily be recorded in cost of sales, negatively impacting gross margin.
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