On Friday, the European Union (EU) and Japan expressed confidence that they had successfully secured limits on the US tariffs on pharmaceuticals, which President Donald Trump announced would be imposed next week at a 100% rate.

The European Commission referred to a joint statement agreed with the US following its end-July trade deal, which states that the tariff for pharmaceuticals, semiconductors and lumber would not exceed 15%.

“This clear all-inclusive 15% tariff ceiling for EU exports represents an insurance policy that no higher tariffs will emerge for European economic operators,” a Commission spokesperson said.

Cautious Optimism That Cap Will Apply

European Trade Commissioner Maros Sefcovic, speaking in Hanoi, said he expected the commitment to be respected, noting that Wash

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