- Historic Pharmaceutical Pricing Deal: The U.S. and U.K. have reached an agreement in principle to address pharmaceutical trade imbalances, increasing the net price the U.K. pays for new medicines by 25% and reversing a decade-long decline in NHS expenditures on innovative medicines.
- Economic and Investment Benefits: This agreement aims to strengthen the pharmaceutical industry in both countries, fostering investment, innovation, and job creation while ensuring that American citizens no longer bear the highest drug costs globally.
- Tariff Exemptions and Regulatory Commitments: In exchange for the U.K.’s commitments, the U.S. will exempt U.K.-origin pharmaceuticals from Section 232 tariffs and not target U.K. pricing practices in future investigations, enhancing access to new pharmaceutical breakthroughs for U.K. citizens.
Source ustr.gov
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