The US exempts pharmaceutical import taxes for some partners.

VTV.vn - Taxes on European pharmaceuticals will also be fixed at a common rate of 15% in the framework agreement between the US and the EU.

The US exempts pharmaceutical import taxes for some partners.

In the context that the US has just announced a tariff of up to 100% on imported pharmaceutical products, some major trading partners such as Japan and the European Union (EU) will not have to pay this tax because they have separate agreements with the US.

Bloomberg quoted a White House official as saying that tariffs on European pharmaceuticals would also be fixed at a common rate of 15% under the framework agreement between the US and the EU. Meanwhile, the US-Japan joint agreement also confirmed that Japanese pharmaceuticals would not be subject to tariffs exceeding those of other partners such as the EU.

Earlier on Thursday last week, US President Donald Trump announced a 100% tax on imported pharmaceuticals starting October 1, except for products from businesses with production projects in the US.

Mr. Trump has been signaling since at least April that imported drugs would be subject to tariffs. In preparation, major pharmaceutical companies have been stockpiling supplies, so consumers are unlikely to feel the impact immediately, even if the tariffs go into effect next week, analysts say.

“We think there has been a significant build-up of inventories this year,” Neil Shearing, chief economist at Capital Economics, said in a note.

This summer, Mr. Trump imposed tariffs of up to 15% on most pharmaceutical imports from the European Union, which accounts for 60% of U.S. drug imports. EU officials believe the deal will protect them from 100% tariffs, although they said they could not be absolutely certain. The White House confirmed to Reuters on September 26 that the tariffs would not apply to countries with which they have negotiated agreements.

“The explicit 15% tariff cap on EU exports is an insurance measure to ensure that higher tariffs will not be imposed on European economies,” a European Commission spokesperson told NBC News on September 26.

Ireland’s Deputy Prime Minister and Trade Minister Simon Harris said his country was “studying the implications of this announcement” but added that he believed the 15% cap on pharmaceutical tariffs would remain in place. Ireland alone accounts for 24% of pharmaceutical imports into the US.

Source: https://vtv.vn/my-mien-thue-nhap-khau-duoc-pham-voi-mot-so-doi-tac-100250929100732042.htm