Washington cancels its customs duties on British medicines. Details of the agreement

Declared Washington has reached an agreement with London to abolish Customs duties imposed on British pharmaceutical products, in exchange for a 25% increase in drug prices in the United Kingdom.
The agreement, according to the US government, aims to ensure that American patients do not pay high prices for their medications in order to support health systems in other developed countries, White House Trade Representative Jamieson Greer said in a statement.
The price increase applies to new drugs that are… "Innovative" and on procurement for the NHS, the public health service in Britain.

British pledges

London pledged, according to a statement issued by the White House, not to compensate for this increase in prices by reducing the prices of other products included in the lists of pharmaceutical companies.
In return, Washington canceled the customs duties on pharmaceutical products imported from Britain, which had entered into force since last October, when Washington imposed tariffs on these products exported to it from all countries of the world as well. The United States also committed not to impose any new duties in the future.
US Health Secretary Robert Kennedy Jr. said in a statement "Americans should not face the highest drug prices in the world for the drugs they helped finance"

He added: "This agreement with the United Kingdom strengthens the global environment for innovative medicines and achieves a long-awaited balance in the pharmaceutical trade between the United States and the United Kingdom."

Drug prices in the United States

Drug prices in the United States are among the highest in the world, exceeding their prices in neighboring countries and Europe.
According to a study conducted by the Rand Corporation, Americans pay on average two and a half times the price of medicines compared to, for example, the French, a gap that US President Donald Trump has pledged to close.
Trump has repeatedly threatened to impose 100% tariffs on all imported patented medicines unless they are adopted. Pharmaceutical companies have manufacturing facilities in the United States.
The tariffs on pharmaceutical products, which were announced at the end of September, took effect in October, and are expected to gradually reach 100%.
However, these duties do not include products exported from certain regions or countries such as the European Union, as the trade agreement between Brussels and Washington stipulates that European products cannot be taxed at a rate exceeding 15%.

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