Trump's Tariffs Exempt EU and Japan Pharma
Donald Trump's new tariffs on pharmaceuticals exclude countries with existing trade deals. A White House official confirms that partners like the EU and Japan are unaffected, adhering to a 15% cap as part of their agreements.
- Country:
- United States
The Trump administration's new tariffs targeting pharmaceuticals will not impact countries that maintain existing trade agreements, according to a White House official. This clarification comes after concerns arose over potential disruptions in the pharmaceutical sector.
In response to queries about the application of these tariffs on trade partners like the European Union and Japan, the official reassured that these countries would remain unaffected. The administration intends to uphold the clauses in their trade agreements, which include a 15% cap on such tariffs.
The announcement aims to alleviate concerns from industry stakeholders in regions with pre-existing agreements, ensuring continued cooperation and trade fluidity in the pharmaceutical markets of the involved nations.
(With inputs from agencies.)
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