Name-Brand Pharmaceuticals From EU Will Carry 15% Tariff, Per Trade Deal
The agreement struck between the Trump administration and the European Union, which goes into effect Sept. 1, holds tariffs for generic pharmaceuticals at roughly 2.5%.
ABC News:
US And EU Release Details For Tariffs On Cars, Pharmaceuticals
The United States and European Union on Thursday released new details of their trade agreement, including tariff levels for consumer staples like pharmaceuticals and autos. The accord officially establishes a 15% tariff rate for pharmaceuticals from the EU, a top source of U.S. drug imports. Generic pharmaceuticals will be exempt from the new agreement, meaning such drugs will face a roughly 2.5% tariff rate in place prior to the Trump administration. The move ruled out the possibility of a higher tariff rate for pharmaceuticals, for which Trump had previously threatened levies as high as 250%. The new tariffs will take effect on Sept. 1, the joint framework said. (Zahn, 8/21)
Related news on the high cost of health care —
KFF Health News:
The Price Increases That Should Cause Americans More Alarm
Wary of inflation, Americans have been watching the prices of everyday items such as eggs and gasoline. A less-noticed expense should cause greater alarm: rising premiums for health insurance. They have been trending upward for years and are now rising faster than ever. Consider that, from 2000 to 2020, egg prices fluctuated between just under $1 and about $3 a dozen; they reached $6.23 in March but then fell to $3.78 in June. Average gas prices, after seesawing between $2 and $4 a gallon for more than a decade starting in 2005, peaked at $4.93 in 2022 and recently fell back to just over $3. (Rosenthal, 8/22)
Chicago Tribune:
Health Insurers Propose Price Increases For ACA Plans
Illinois consumers may face sticker shock when they shop for health insurance plans on the state’s Affordable Care Act exchange this fall — with most companies proposing double-digit-percentage price increases as they grapple with uncertainty about changes at the federal level. (Schencker, 8/21)
The Texas Tribune:
Average ACA Premiums Could Rise By More Than 20% In Texas
Health insurance companies have requested an average premium increase of 24% for Affordable Care Act plans in Texas in 2026, a significant hike that could lead to destabilization in the marketplace and customers opting for less or no coverage. (Birenbaum, Keemahill and Wu, 8/21)
In other Trump administration news —
The New York Times:
Judge Orders ‘Alligator Alcatraz’ Detention Center In Florida To Shut Down For Now
A federal judge on Thursday ordered that no more immigrant detainees be sent to a center in the Florida Everglades, and that much of the facility be dismantled. The ruling rebuked the state and federal governments for failing to consider potential environmental harms before building the facility, known as Alligator Alcatraz. The judge gave both branches of the government 60 days to move out existing detainees and begin to remove fencing, lighting, power generators and other materials. The order also prohibits any new construction at the site. (Mazzei and Adams, 8/21)
The 19th:
Stacey Park Milbern’s Quarter Marks A Historic First For Disability Representation
The late disability justice co-founder and activist Stacey Park Milbern is the latest pioneering woman to receive her own quarter from the U.S. Mint. Milbern is the first woman in a wheelchair featured on U.S. currency and the first person whose wheelchair is actually shown. (Luterman, 8/21)
