The European pharmaceutical industry is advocating for the EU not to respond with retaliatory tariffs in light of Donald Trump's threats to impose tariffs on imported drugs. The industry's leaders worry such measures would increase medicine costs and negatively impact patient care. With the looming deadline for trade deals, particularly with the US, stakeholders believe any tariffs would hurt both US and EU economies and complicate negotiations. Industry leaders expressed that the ideal scenario would be to minimize trade barriers to zero rather than imposing new tariffs, which could hinder collaboration and benefit patients.
Tariffs will increase the cost of medicine and care. Tariffs will also create, ultimately, higher costs to patients.
If we add tariffs to that, it's going to be negative for both sides. If we reciprocate on tariffs, it's just a bad idea.
There's no specific ask [of the US] other than to the degree possible to limit trade barriers to zero.
The dynamics of the EU's negotiations with the US remain finely balanced, with speculation mounting for a quick deal.
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