US drug tariffs, EU flaunts confidence: protected by 15% cap agreement
Commissioner Sefcovic points out that all agreed commitments have been met so far, while a Commission spokesman claims: "The Union is the only US trading partner to have achieved this".
from our correspondent Beda Romano
2' min read
2' min read
BRUSSELS - The European Commission reacted with deliberate calmness to the US announcement of new tariffs, this time up to 100%, against pharmaceutical products. According to the EU executive, the measure decided by the White House does not concern European medicines, because the economic agreement signed by the parties in the summer provides for maximum tariffs of 15%. The same reaction came from the Japanese government, which also signed a recent agreement with Washington.
In a communiqué published yesterday morning, the European Commission was quick to point out the content of the understanding with the White House, which states in point 3: 'The United States intends to ensure in a timely manner that the tariff rate (...) applied to goods originating in the European Union subject to Section 232 measures on pharmaceuticals, semiconductors and timber does not exceed 15%'.
From Hanoi, Trade Commissioner Maroš Šefčovič went on to comment: 'There is a clear commitment from the US that pharmaceuticals will be kept under the 15% all-inclusive cap, as we negotiated and included in the joint statement' this summer. So far, 'I have to say that both the US and the EU are fulfilling all the commitments from that joint statement'.
The Union 'is the only trading partner to have achieved this result with the United States', an EU spokesperson from Brussels wished to clarify, in an indirect response to the criticism of recent weeks directed against Brussels because of a controversial agreement. In fact, even Tokyo was able to say calm yesterday, referring to an agreement with Washington, according to which American tariffs on Japanese chips and medicines will not be able to be higher than those adopted against European goods.
The stance from Brussels and Tokyo came after President Donald Trump announced on Truth Social that as of 1 October, 'we will apply a 100 per cent tax on all branded or patented pharmaceutical products unless a company builds its own pharmaceutical plant in America'. The announcement confirms the protectionist spirit of the new administration, with the aim in fact of reindustrialising the American economy.
