EU Caps US Pharma Tariffs at 15%

The European Commission announced on Friday that it has successfully limited US tariffs on pharmaceuticals to a maximum of 15 percent, providing protection for European businesses. A spokesperson for the Commission stated that the United States has committed to ensuring that the tariff rate on certain EU goods related to pharmaceuticals, semiconductors, and lumber under Section 232 actions will not surpass 15 percent. This move comes after US President Donald Trump revealed plans for new tariffs, including imposing 100 percent duties on branded drugs scheduled to be implemented in the upcoming week.