FX.co ★ Britain Would Face 100% tariff on Pharmaceuticals Under Latest Trump Plan

Britain could potentially face a 100% tariff on pharmaceuticals imported into the United States under President Donald Trump's latest policy, as reported by Reuters on Friday. On Thursday, Trump announced the imposition of a 100% tariff on pharmaceutical imports unless companies establish manufacturing operations within the US. Notably, the European Union and Japan are not subject to this new tariff threat, as both have negotiated trade agreements capping pharmaceutical duties at 15%, according to earlier reports from Reuters. Despite Britain being the first country to ink a trade deal with Trump, the tariff rate on pharmaceuticals remains under discussion, leaving the UK vulnerable to these new measures, a source informed Reuters. In 2024, pharmaceutical imports from Britain constituted roughly 3.3% of the total US pharmaceutical imports, based on US trade data.