US, UK Agree Deal on Pharmaceutical Tariffs, Drug Pricing (1)

The Trump administration reached a deal with the UK 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 US agreed to “exempt UK-origin pharmaceuticals, pharmaceutical ingredients, and medical technology from Section 232 tariffs,” the Office of the US Trade Representative said Monday. The US will also “refrain from targeting UK pharmaceutical pricing practices” in certain trade investigations during President Donald Trump’s term, according to the statement.

While the US and UK had agreed to a trade framework earlier this year that set a broad ...