BRUSSELS: The European Commission said on Friday it had secured a 15% ceiling on US tariffs on pharmaceuticals, acting as an insurance policy for European companies.
“The United States intends to promptly ensure that the tariff rate … applied to originating goods of the European Union subject to Section 232 actions on pharmaceuticals, semiconductors, and lumber does not exceed 15%,” a Commission spokesperson said in a statement.
US President Donald Trump unveiled on Thursday a fresh round of tariffs on a broad range of imported goods, including 100% duties on branded drugs, set to go into effect next week.
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