US and UK agree zero tariffs deal on pharmaceuticals

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46% : Simon Jack,Business editor,Nick Triggle,Health correspondentandRachel Clun,Business reporterAFP via Getty ImagesThe UK and the US have agreed a deal to keep tariffs on UK pharmaceutical shipments into America at zero.Under the agreement the UK will pay more for medicines through the NHS in return for a guarantee that US import taxes on pharmaceuticals made in the UK will remain at zero for three years.This is the first time the amount that the NHS pays for medicines is due to increase in more than 20 years.The deal comes after US President Donald Trump threatened to raise tariffs to as high as 100% on branded drug imports, one of the UK's biggest exports to the US.Business and Trade Secretary Peter Kyle said the deal "guarantees that UK pharmaceutical exports – worth at least £5bn a year - will enter the US tariff free, protecting jobs, boosting investment and paving the way for the UK to become a global hub for life sciences."The UK exported £11.1bn worth of medicines to the US in the 12 months to the end of September, making up 17.4% of all goods exports in that period, according to the Department for Business and Trade.Pharmaceuticals were not included in the wave of tariffs US President Donald Trump had announced earlier this year.

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