"President Donald Trump announced a new wave of tariffs on Thursday, including a 100% levy on branded or patented drug imports from 1 October, unless a company is building a factory in the US. The move could hit major pharmaceutical exporters from the UK, Ireland, Germany, Switzerland, and Japan. The UK alone shipped more than $6 billion (£4.5bn) worth of pharmaceutical products to the US last year, according to the UN."
"Mark McCarthy, Chief Revenue Officer at Basware, said, "Trade wars and tariff uncertainty introduce volatility into the global economy. For major enterprises, especially those with complex supply chains or international footprints, this creates hesitation around IT spending. CIOs and CFOs may want to delay large IT investments, reassess strategic priorities and scrutinize every dollar of spend. Organizations are working on contingencies, but in a turbulent environment, smart enterprises don't stop investing, they get more focused on their spending""
New US tariffs impose a 100% levy on branded or patented drug imports from 1 October unless a company builds a factory in the US. Major pharmaceutical exporters in the UK, Ireland, Germany, Switzerland, and Japan face potential impact; the UK shipped over $6 billion (£4.5bn) in pharmaceuticals to the US last year. Markets have reacted, with volatility in Wall Street and European stocks. A 25% import tax on heavy-duty trucks targets manufacturers like Peterbilt and Mack, while industry groups warn many truck parts come from allies, complicating localization. Kitchen and bathroom cabinets face a 50% duty and upholstered furniture a 30% tariff. Trade uncertainty is prompting firms to reassess spending and contingency plans.
Read at London Business News | Londonlovesbusiness.com
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