UK exempt from US tariffs on pharma: The UK is now exempt from US tariffs on pharma products and meds technology as per a new agreement, but will pay more for US meds, Reuters reports. The new pricing policy stipulates that the UK will pay 25% more for US-made meds, which is expected to stimulate investment in both countries, United States Trade Representative Jamieson Greer said.

There’s more: The UK will also tweak the system through which it assesses drug value, by overhauling how the National Institute for Health and Care Excellence determines which meds are cost-effective for the National Health Service.

REMEMBER- Washington agreed to give the UK preferential treatment in cases of new US tariff schemes as per a trade agreement inked earlier this year. The Trump administration also spared Britain from any scrutiny arising from probes into national security threats, including the probes on pharma and semiconductors.

The clock is ticking on Washington’s tariff plans: The Trump administration is seeking to lock in as many trade agreements as possible and solidify tentative frameworks before the Supreme Court potentially lessens the law-related stature of US President Donald Trump’s tariff frenzy, King & Spalding law firm partner Ryan Majerus told the newswire. If the Trump administration falls behind in cementing its trade frameworks, disgruntled trade partners might leverage those law-related challenges against Washington in hopes of securing better terms, Majerus said.

Tags: