Circles: Start of new US pharmaceutical tariffs delayed - US Delays Drug Tariffs, Spares EU as Pharma Giants Resist
The US has delayed and adjusted its planned drug tariffs, sparing the European Union from the latest round. The move comes after pharmaceutical giants resisted the initial proposals.
Initially, the US planned a 100 percent tariff on branded drugs and patented medicines from the EU. This has now been postponed. Meanwhile, EU imports will continue to face a 15 percent tariff.
Major pharmaceutical companies, including Roche, Novartis, Sanofi, and GSK, have chosen not to relocate production to the US to avoid the tariffs. However, some have announced US investments to mitigate the impact. Pfizer, for instance, agreed to lower drug prices in exchange for tariff exemptions.
The US government had previously stated that companies building a production facility in the US could dodge the tariff. Now, it plans to prepare tariffs for those that refuse to relocate or lower prices.
The US has delayed its new drug tariffs, originally set for October 1. The EU is exempt from the latest round, while major pharmaceutical companies face potential tariffs if they don't relocate production or lower prices.
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