The EU's 15% tariff deal with the US may impact the pharmaceutical sector significantly. President Trump indicated a plan to introduce an initial small tariff on drugs that is expected to rise to 150% or even 250%, aiming to encourage domestic drug manufacturing. He mentioned a $600 billion investment from the EU as a gift, not a loan. If the investment is not honored, tariffs could reach 30%. The European Commission maintains that no new global tariffs will exceed the agreed 15% ceiling.
Trump emphasized that the tariffs on pharmaceuticals will start small and increase significantly over time, with a goal of bringing drug manufacturing back to the U.S.
The EU committed to invest $600 billion in the U.S., which Trump clarified is a gift, not a loan, allowing for wide-ranging investment options.
Trump warned that if the EU fails to meet its investment commitment, the U.S. would impose hefty tariffs on pharmaceutical imports, escalating up to 30 percent.
The European Commission has stated its position that any new global tariff on pharmaceuticals will not surpass the agreed 15 percent tariff.
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