New U.S. Tariffs Expected to Impact Pharmaceutical Industry, EU Commission Warns
EU Commission President Ursula von der Leyen addresses potential tariffs on various sectors, including pharmaceuticals, amid rising trade tensions.
U.S. tariffs on imports are anticipated to extend to various sectors, including the pharmaceutical industry, as stated by Ursula von der Leyen, President of the European Commission.
In a recent address to the European Parliament in Strasbourg, von der Leyen announced that the U.S. plans to impose new tariffs on imports of semiconductors, pharmaceuticals, and timber.
This announcement follows expectations of additional reciprocal tariffs designed to respond to alleged unfair tariffs imposed by other nations.
These new measures are set to apply to nearly all goods and many countries around the world, adding to the special tariffs already implemented by U.S. President Donald Trump.
Current U.S. tariffs affect imports of steel, aluminum, automobiles, and auto parts.
Von der Leyen reiterated concerns regarding the economic repercussions of a potential trade war, emphasizing the EU's willingness to engage in negotiations.
'Tariffs are taxes paid by the public.
They represent increased costs for American consumers regarding food and medication,' she stated.
She highlighted that issues such as overcapacity, imbalances, unfair subsidies, market protectionism, and intellectual property theft are problematic for the EU as well.
According to von der Leyen, general tariffs could exacerbate these challenges, leading to job losses and complicated new customs procedures.
Moreover, von der Leyen indicated that the EU would implement countermeasures if the U.S. does not show adequate willingness to negotiate.
'I have already discussed the next steps with European heads of state and government,' she noted.
'Our goal is a negotiated solution.
However, if necessary, we will protect our interests, our people, and our businesses.' While specific details on these planned countermeasures were not disclosed, EU sources indicate they may include the introduction of extensive counter-tariffs and potential taxes on digital services provided by U.S. companies in the EU.
In a recent address to the European Parliament in Strasbourg, von der Leyen announced that the U.S. plans to impose new tariffs on imports of semiconductors, pharmaceuticals, and timber.
This announcement follows expectations of additional reciprocal tariffs designed to respond to alleged unfair tariffs imposed by other nations.
These new measures are set to apply to nearly all goods and many countries around the world, adding to the special tariffs already implemented by U.S. President Donald Trump.
Current U.S. tariffs affect imports of steel, aluminum, automobiles, and auto parts.
Von der Leyen reiterated concerns regarding the economic repercussions of a potential trade war, emphasizing the EU's willingness to engage in negotiations.
'Tariffs are taxes paid by the public.
They represent increased costs for American consumers regarding food and medication,' she stated.
She highlighted that issues such as overcapacity, imbalances, unfair subsidies, market protectionism, and intellectual property theft are problematic for the EU as well.
According to von der Leyen, general tariffs could exacerbate these challenges, leading to job losses and complicated new customs procedures.
Moreover, von der Leyen indicated that the EU would implement countermeasures if the U.S. does not show adequate willingness to negotiate.
'I have already discussed the next steps with European heads of state and government,' she noted.
'Our goal is a negotiated solution.
However, if necessary, we will protect our interests, our people, and our businesses.' While specific details on these planned countermeasures were not disclosed, EU sources indicate they may include the introduction of extensive counter-tariffs and potential taxes on digital services provided by U.S. companies in the EU.
Translation:
Translated by AI
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
