By Jarrett Renshaw WASHINGTON (Reuters) -Britain would face 100% tariffs on pharmaceuticals imported into the U.S. under President Donald Trump’s latest plan, sources told Reuters on Friday. Trump announced on Thursday that he was imposing a 100% tariff that would apply to firms unless they build a manufacturing presence in the United States. The European […]
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Britain would face 100% tariff on pharmaceuticals under latest Trump plan, sources say
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By Jarrett Renshaw
WASHINGTON (Reuters) -Britain would face 100% tariffs on pharmaceuticals imported into the U.S. under President Donald Trump’s latest plan, sources told Reuters on Friday.
Trump announced on Thursday that he was imposing a 100% tariff that would apply to firms unless they build a manufacturing presence in the United States.
The European Union and Japan are exempt from Trump’s latest tariff threat because both negotiated trade deals that capped pharmaceutical duties at 15%, Reuters previously reported.
Britain was the first nation to strike a trade deal with Trump, but the pharmaceutical rate remains under negotiation, so Britain is not shielded from the new tariffs, a source told Reuters on Friday.
Trump has framed the move as part of a broader push to onshore drug production and reduce reliance on foreign supply chains, a priority of his administration’s trade and industrial policy.
Pharmaceutical imports from Britain accounted for about 3.3% of total pharmaceutical imports to the U.S. in 2024, according to U.S. trade data.
(Reporting by Jarrett Renshaw, David Shephardson and Michael Erman; Writing by Doina Chiacu; Editing by Chizu Nomiyama and Leslie Adler)