The president of the United States has long argued that tariffs solve unfair trade deficits and prevent another countries ‘deception’ USA.
Critics say this policy raises national prices and harms the economy.The fresh work on medicines will not apply to companies that already invest in American production, but in establishments ‘starting business’ or ‘under construction’, as Trump stated on Friday on social media.This measurement is expected to hit Europe most, as it is the dominant supplier of branded medicines to the US, headed by Ireland, Germany, Switzerland and Belgium.
Generic medicines, mainly imported from India, are duty-free.In April Trump named the EU "worse than China" on commercial practices.He claimed that the European Union was at least partially blamed for the excessively advanced prices of prescription medicines paid by the Americans.
According to the President, Brussels has unfairly exercised "violent’ force on pharmaceutical companies to keep low prices in Europe, while refusing to cover a fair share of the investigation and improvement costs of companies and another related costs.
However, he did not impose duties on pharmaceutical products at the time.Large companies, including Merck & Co., AstraZeneca, Roche, Novartis and Johnson & Johnson, have since announced billions of dollars in fresh US production projects.
At the same time, 32 pharmaceutical companies sent a joint letter to the president of the European Commission, Ursula von der Leyen, informing that Trump's duties could origin more than EUR 100 billion (US$117 billion) of investment outside Europe over the next fewer years.
The Presidents called on Brussels to improvement its pricing rules, strengthen patent protection and improve regulation to keep the competitiveness of the continent.
Translated by Google Translator
source:https://www.rt.com/news/625293-trump-tariff-branded-drugs-eu/
