United States will impose tariffs of up to 100% on medicines to encourage domestic production
Donald Trump, President of the United States Photo: AFP
TL;DR
- New tariffs imposed on imported medicines and metals by US President Donald Trump.
- Pharmaceutical tariffs aim to encourage domestic production and could reach 100%, but will be 15% for countries with trade agreements with Washington.
- Metal tariffs are being revised to counter price manipulation by companies.
- European industrialists are unhappy with the changes to steel and aluminum tariffs.
- Products made entirely or almost entirely with aluminum, steel, or copper will face a fixed 50% tariff.
- Imported goods containing a substantial amount of these metals will be subject to a 25% tariff.
- European Commission is analyzing the impact of these measures on European exports.