Trump may impose tariffs on European drugs

US President Donald Trump may impose tariffs on European pharmaceutical products, Report informs via Politico.

"Though he’s offered no timeline, Trump also promised to hit the European pharmaceutical industry, Claudia Chiappa reports, despite a 30-year-old World Trade Organization agreement not to apply duties to medicines.

Who would be hit hardest? Ireland is likely to be particularly concerned. In 2023, the US was the biggest buyer of Irish goods exports, valued at €54 billion — of which some €36 billion related to pharmaceuticals and chemicals.

The first threat of tariffs came against Denmark over its unwillingness to relinquish control of Greenland. Those would naturally hit the country’s most high-profile company, Ozempic-maker Novo Nordisk," reads the article.