The Latest Breaking News on The Nations And Firms Threatened By Trump's Pharma Tariffs

Britain will ‘actively engage’ with US over possible 100% duties, with truck and cabinet makers also in firing line

US President Donald Trump announced on Thursday 100% tariffs on pharmaceutical products imported into the US, but the European Commission remains hopeful that the deal concluded with Washington this summer—setting 15% tariffs on EU goods—will also apply to the sector.

President’s latest levies risk backfiring and intensifying inflation despite his assurances the country is having ‘unbelievable success’

While Trump did not provide a legal justification for the tariffs, he appeared to stretch the bounds of his role as commander-in-chief by stating on Truth Social that the taxes on imported kitchen cabinets and sofas were needed “for national security and other reasons".

EU exports to the US dropped sharply as new Trump tariffs and a stronger euro hit trade, slashing Europe's surplus and weighing on key sectors like cars and pharmaceuticals.

China has opened an investigation into whether Mexico's import tariffs are a trade barrier

Asian shares have slipped after President Donald Trump announced plans for new tariffs including 100% import taxes on pharmaceutical drugs, starting on Oct. 1

Markets retreated Friday as nagging uncertainty about the US interest rate outlook was compounded by data showing the world's biggest economy faring much better than expected and fresh tariff warnings from President Donald Trump.

US President Donald Trump announced Thursday punishing tariffs on pharmaceuticals, big-rig trucks, home renovation fixtures and furniture, reviving his global trade war.