Under the deal announced Monday, the Trump administration agreed to exempt U.K.-origin pharmaceuticals, pharmaceutical ingredients, and medical technology from import taxes. In return, U.K. drugs firms committed to invest more in the U.S. and create more jobs. The U.K. government said it will invest around 25% more in new and effective treatments — the first major increase in such spending in over two decades.
“This vital deal will ensure U.K. patients get the cutting-edge medicines they need sooner, and our world-leading UK firms keep developing the treatments that can change lives,” Science and Technology Secretary Liz Kendall said.
U.S. Health Secretary Robert F. Kennedy Jr. said the agreement “strengthens the global environment for innovative medicines and brings long-overdue balance to U.S.–U.K. pharmaceutical trade.”
