The US exempts pharmaceuticals from import tariffs with certain partners.

VTV.vn - Taxes on European pharmaceuticals will also be fixed at a common rate of 15% under the framework agreement between the US and the EU.

The US exempts pharmaceuticals from import tariffs with certain partners.

Amidst the US announcement of tariffs of up to 100% on imported pharmaceuticals, some major trading partners, such as Japan and the European Union, will not be subject to these tariffs due to separate agreements with the US.

Bloomberg quoted a White House official as saying that tariffs on European pharmaceuticals will also be fixed at a common rate of 15% under the framework agreement between the US and the EU. Meanwhile, the US-Japan agreement also confirms that Japanese pharmaceuticals will not be subject to tariffs exceeding those imposed on other partners such as the EU.

Earlier last Thursday, US President Donald Trump announced a 100% tariff on imported pharmaceuticals starting October 1st, except for products from companies with manufacturing projects in the US.

According to analysts, Trump has signaled since at least April that imported pharmaceuticals would be subject to tariffs. In preparation, major pharmaceutical companies have stockpiled supplies. Therefore, consumers are unlikely to feel the immediate impact, even if the tariffs take effect next week.

"We believe there has been significant inventory buildup this year," Neil Shearing, chief economist at Capital Economics, said in a statement.

This summer, President Trump imposed a maximum tariff of 15% on most pharmaceuticals imported from the European Union (EU), which account for 60% of US drug imports. EU officials believe the agreement will protect them from 100% tariffs, although they said they couldn't be entirely certain. The White House confirmed to Reuters on September 26 that the tariffs would not apply to countries that had already reached negotiated agreements.

"The 15% tariff ceiling for EU exports is clearly a safeguard to ensure that higher tariffs don't appear on European economists," a European Commission spokesperson told NBC News on September 26.

Irish Deputy Prime Minister and Trade Minister Simon Harris said his country was “studying the impact of this announcement” but added that he believed the 15% cap on pharmaceutical tariffs would remain in effect. Ireland alone accounts for 24% of pharmaceutical imports into the United States.

Source: https://vtv.vn/my-mien-thue-nhap-khau-duoc-pham-voi-mot-so-doi-tac-100250929100732042.htm