The Trump administration has reached an agreement with the U.K. to allow tariff-free imports of pharmaceutical products in exchange for a significant reduction in rebates drugmakers pay to Britain’s National Health Service.
The U.S. agreed to “exempt U.K.-origin pharmaceuticals, pharmaceutical ingredients, and medical technology from Section 232 tariffs,” the Office of the U.S. Trade Representative announced Monday. The U.S. will also “refrain from targeting U.K. pharmaceutical pricing practices” in certain trade investigations during President Donald Trump’s term, according to the statement.
