U.S. agrees to exempt UK from potential new pharmaceutical duties

The U.S. will exempt the United Kingdom from any tariffs on pharmaceuticals contemplated by the Trump administration in exchange for an agreement by the UK to increase how much it pays for medicines, the Office of the U.S. Trade Representative announced on Monday. Washington and London have reached an “agreement in principle” on pharmaceutical pricing, USTR said in a statement . As part of the arrangement, the UK’s National Health Service will raise the net price it pays for new...