U.S. President Donald Trump’s new tariffs on pharmaceutical imports will not apply to countries with negotiated agreements with the U.S. that contain provisions on drugs, according to a White House official, delivering promised relief to economies including the European Union and Japan.
Duties on pharmaceuticals from the EU will be capped at 15% per the terms of its framework deal, the official said Friday. Japanese drugs will also be charged the rate spelled out in its pact, the official added. The U.S.-Japan joint statement says American tariff rates on Japanese drugs and semiconductors should not exceed those applied to others, including the EU.
The U.K., another country that exports pharmaceuticals to the U.S., would face the 100% tariff, according to a White House official. London also negotiated a trade agreement with Washington that included provisions for similar exemptions, but the two countries have not yet agreed on a rate for pharmaceuticals.
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