EU and Japan Secure 15% Tariff Cap Amid U.S. Trade Tensions

The European Union and Japan have expressed confidence in securing a 15% cap on U.S. tariffs for pharmaceuticals, contrary to President Donald Trump's looming 100% tariff threat, set to begin next week.

The European Commission referred to a late-July joint statement with the U.S. during trade negotiations, asserting that tariffs on pharmaceuticals, semiconductors, and lumber would not exceed the 15% ceiling.

Japan has similarly acknowledged its agreement with Washington, ensuring duty rates for Japanese exports do not surpass those for EU counterparts. The pharmaceutical industry remains cautiously optimistic that the negotiated agreements will stand firm against Trump's broader tariff threats.

(With inputs from agencies.)