EU Affirms Trade Deal Protects Pharmaceutical Exports From US Tariffs

2025-09-26 08:04:40

(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, Sept 26 (KUNA) -- The European Commission reaffirmed that the trade agreement between the European Union (EU) and the US guarantees protection for European pharmaceutical exports from any tariffs exceeding 15 percent, following US President Donald Trump's announcement of 100 percent tariffs imposed on drugs.
European Commission Deputy Chief Spokesperson Olof Gill told reporters, "this clear all-inclusive 15 percent tariff ceiling for EU exports represents an insurance policy that no higher tariffs will emerge for European economic operators."
EU and US will continue engaging towards implementing the joint statement commitments, while exploring further areas for tariff exemptions, he added.
Gill highlighted the July agreement, which explicitly states tariff rates on pharmaceuticals, semiconductors and lumber must not exceed 15 percent.
Earlier today, Trump announced a 100-percent tariff on imported drugs, trucks, and furniture, warning all branded or patented pharmaceutical products would face tariffs unless companies establish drug manufacturing plants within the US. (end)
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