Donald Trump says he'll soon announce tariffs on imported pharmaceuticals, which could reach 200 per cent and would be a huge blow for Australia's industry. 

On the Breakfast Wrap, we'll hear from the Federal Treasurer. 

Meanwhile, the fall-out from the Reserve Bank's decision to keep interest rates on hold at 3.85 per cent continues this morning.

The decision from the RBA Board — which was not unanimous -- comes as the bank says uncertainty in the world economy remains elevated.

Recap the morning's news, politics and global affairs with the Breakfast Wrap