BCC press release: Fresh uncertainty as new tariffs announced

Reacting to the announcement by the US President of new 100% US tariffs on pharmaceutical imports, William Bain, Head of Trade Policy, said:
 

“This announcement will create fresh uncertainty for the UK’s pharmaceutical companies. However, the Economic Prosperity Deal commits the US to negotiate significantly preferential arrangements for the UK on these levies. 

“It is also worth remembering that the UK’s leading pharmaceutical companies have committed to significant investment in the US, including in advanced manufacturing. We believe this should give them protection from any new duties. 

“But we will need to scrutinise the precise terms of the Executive Order for these new tariffs, which are due to begin next week. The expectation is that the UK’s trade deal should provide a framework for exemptions which can give certainty to the UK’s leading pharmaceutical firms.”