EU and Japan Shield Pharmaceuticals from US Tariff Hikes
The European Union and Japan have successfully negotiated with the United States to ensure that tariffs on pharmaceuticals do not exceed 15%, mitigating President Donald Trump's proposed 100% tariffs. This agreement, part of recent trade talks, offers an insurance measure to protect EU and Japanese pharmaceutical exports.
The European Union, alongside Japan, has maneuvered to secure a cap on U.S. tariffs for pharmaceuticals, protecting against President Donald Trump's planned 100% increase.
According to a joint statement from recent trade discussions, tariffs on pharmaceuticals, semiconductors, and lumber won't surpass 15%—a significant protective measure for European exporters.
Japan announced a similar agreement with the U.S., aligning its tariff cap for semiconductors and pharmaceuticals with that of the EU, thus safeguarding its industries from potential economic shocks.
(With inputs from agencies.)
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