Trump, EU announce trade deal
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U.S. President Donald Trump and European Commission President Ursula von der Leyen have announced a sweeping trade deal. It raises tariffs on most European goods to 15%.
The 15 percent tariff rate agreed under the new deal could significantly impact pharma firms reliant on European imports.
5hon MSN
France’s prime minister described it as a “dark day” for the European Union, a “submission” to U.S. tariff demands. Commentators said EU Commission chief Ursula von der Leyen’s handshake with President Donald Trump amounted to capitulation.
Many pharmaceutical products made in Europe will face a 15 percent tariff, pinching manufacturers and potentially leading to higher drug prices.
U.S. President Donald Trump will make his trade deal decisions this week even as separate negotiations with China and the European Union continue, U.S. Commerce chief Howard Lutnick said on Tuesday ahead of Trump's self-imposed Aug.