US tariffs: “No good news for jobs and investments”

The Association of Research-Based Pharmaceutical Companies (vfa) sees the new tariff deal with the US as having significant consequences for the German pharmaceutical industry. It is a far-reaching setback for global healthcare and for Germany as a center of innovation. Europe , the vfa said in a press release.

Under the new transatlantic agreement, flat tariffs of 15 percent will apply to almost all product categories, including pharmaceuticals.

According to the vfa, the new tariff rate is likely not only to result in significant additional costs for manufacturers, but also to jeopardize international patient care. For pharmaceuticals, the deal represents a break with the practice of duty-free exports previously established within the framework of the World Trade Organization and bilateral agreements.

"This agreement now seals billions in costs for Germany as a pharmaceutical location. This is not good news for jobs or investments," says Han Steutel, President of the vfa, adding: "The EU must urgently take countermeasures – in the interests of securing the location and supply."