Trump and Starmer hold talks at Chequers as UK businesses hope for tariff concessions – UK politics live | Politics


UK pharma sector awaits further details from Trump on tariff concessions from US

Lisa O’Carroll

Lisa O’Carroll

Lisa O’Carroll is a senior Guardian correspondent covering trade.

Deals on steel and tech are sealed, but two other sectors caught in the cross hairs of Donald Trump’s UK tariff deal are anxiously waiting for promises to be delivered by the US president today.

The US pledged a “significantly preferential” treatment of the UK’s pharma sector in June, which had yet to materialise.

While the presence of a GSK boss at last night’s banquet may indicate movement on a deal, the question is not just whether the UK gets a further discount on a 10% blanket tariff, but what is included.

The detail on the EU side has yet to materialise with Irish deputy prime minister Simon Harris telling the Guardian “a big body of work” has yet to be done to establish what exactly the 15% tariff would apply to.

Trump locked in a 15%top tariff rate for pharmaceuticals exported from the EU as part of the joint statement released at the end of August, with a zero or close to zero rate on “generic pharmaceuticals and their ingredients and chemical precursors”.

“We don’t have that list of what the generics is or for medical devices,” Harris said.

Trump’s decision to impose 15% tariffs on imports of pharma from EU is already breaching a World Trade Organization agreement that tariffs are not imposed on most medicines for public health reasons.

There is also an expectation both in the EU and in London that exports of wine and spirits will return to pre-Trump, rates when spirits were rated zero on import to the US and wine was rated between 0.5% and 1.8%.

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Queen Camilla and Melania Trump touring the Royal Library in Windsor this morning. Photograph: Nathan Howard/Reuters





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