UK Government's Strategic Move to Secure Pharma Trade with US
The UK government plans to increase spending on specific medicines to protect its pharmaceutical exports to the United States, countering potential 100% drug tariffs imposed by the Trump administration. Varun Chandra, chief business adviser to Prime Minister Keir Starmer, is set to visit Washington with this proposal.
The UK government is strategizing to elevate its expenditure on certain medicines with the goal of safeguarding pharmaceutical exports to the United States. This move comes in response to threats from Donald Trump's administration to impose 100% tariffs on drugs. The Financial Times unveiled these details on Friday.
British Prime Minister Keir Starmer's chief business adviser, Varun Chandra, is scheduled to travel to Washington next week. His mission will be to convey Britain's readiness to bolster its investment in the pharmaceutical sector, a pivotal move aimed at securing trade stability.
As of now, the British government has not replied to Reuters' request for comments, and the report remains unverified. However, the planned diplomatic efforts underscore the importance of sustaining international relations amidst trade tensions.
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