US President Donald Trump's latest tariffs targeting pharmaceuticals do not apply to countries that already have negotiated trade deals, a White House official told Reuters on Friday.
Asked whether pharmaceutical tariffs apply to trading partners such as the European Union and Japan that already have trade deals, the official said the Trump administration would honor the 15 per cent cap as part of those pacts.
It comes after US President Donald Trump announced plans to impose 100 per cent duties on certain pharmaceutical products from next Wednesday, October 1.
The EU stressed this morning that its trade deal with the US, reached in July, shields such exports from tariffs higher than 15 per cent.
Brussels pointed to the joint statement under which Washington agreed to ensure the rate on pharmaceuticals, semiconductors and lumber does not exceed 15 per cent.
