The U.S. and U.K. have agreed to exempt U.K. pharmaceutical exports from ongoing tariffs for at least three years, officials announced Monday.
The U.K. government said as part of the deal that it would invest around 25% more in new treatments, as well as invest more in the U.S. as a whole.
The White House also said it would “work to ensure that U.K. citizens have access to the latest pharmaceutical breakthroughs,” in a press release.
“This agreement with the United Kingdom strengthens the global environment for innovative medicines and brings long-overdue balance to U.S.–U.K. pharmaceutical trade,” Health and Human Services Secretary Robert F. Kennedy Jr. said.
