EU-US trade deal leaves future of pharma tariffs uncertain
Despite a new EU-US trade deal, tariffs on pharmaceuticals remain uncertain and unchanged for now, pending the outcome of a US national security investigation that could later impose duties of up to 15%.
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00:00Despite a new EU-US trade deal, tariffs on pharmaceuticals remain uncertain and unchanged for now, maintaining the 0% rate.
00:10The agreement reached yesterday between President von der Leyen and President Trump will affect most products imported from the European Union into the United States.
00:19We've reached a deal on tariffs and trade with the United States.
00:25Today's deal creates certainty in uncertain times.
00:30It delivers stability and predictability for citizens and businesses on both sides of the Atlantic.
00:38But that certainty does not extend to the pharmaceutical sector, whose future remains unclear.
00:44While most goods will be subject to a 15% tariff, pharma companies will have to wait to know how this deal will affect them.
00:53The U.S. continues investigating pharmaceutical imports to determine whether they pose a threat to national security.
01:00Any potential tariffs will only be announced after that review is done.
01:04The European Commission has said they expect the U.S. to honour the informal understanding reached during negotiations of a 15% cap.
01:11So I believe that this commitment will be honoured, will be respected in this case as well.
01:22For now, nothing changes.
01:24But after the 1st of August, the future of pharmaceuticals remains undecided.
