Donald Trump’s plan to introduce fresh tariffs next week on branded medicines, trucks and kitchen cabinets has sparked renewed worries for the UK pharmaceutical sector, which continues to be left out of Keir Starmer’s US tariff agreement secured five months ago.
In May, Trump pledged “preferential treatment” for UK pharmaceuticals on tariff exemptions, but the promise has yet to materialise.
A British government spokesperson said: “We know this will be concerning for industry, which is why we’ve been actively engaging with the US and will continue to do so over the coming days.
“Sectors such as pharmaceuticals are critical to our economy … so we will continue to press the US for outcomes that reflect the strength of our relationship and deliver real benefits for UK industry.”
Donald Trump has announced sweeping new import tariffs, including 100% duties on branded medicines, 25% on heavy-duty trucks and 50% on kitchen and bathroom cabinets, due to take effect from 1 October.
The move underscores the unfinished nature of the UK’s tariff deal, which focused largely on cars, steel and aerospace products such as plane engines, while leaving pharmaceuticals outside its scope.
Trump’s latest visit to the UK – his second state occasion, marked by a Windsor Castle banquet hosted by King Charles – was seen as a diplomatic charm offensive. Industry leaders, including GSK chief executive Emma Walmsley, were among the high-profile guests.
Yet despite the red-carpet treatment, the UK pharmaceutical industry remains in limbo. According to Lale Akoner, global market analyst at eToro, concerns may prove overstated, since the tariffs would only target drugmakers without existing or planned manufacturing facilities in the United States.
