The Association of German Research-Based Pharmaceutical Companies (VFA) has described the EU-US trade agreement as a “major step backward” for global healthcare and for Europe as a center of innovation.
“In the future, almost all European goods exported to the United States will be subject to a 15% duty, including pharmaceutical products. From the Association of Research-Based Pharmaceutical Companies’ perspective, this is a significant setback for global healthcare and Europe as an innovation hub,” the VFA said in a press release.
The association’s president, Khan Steutel, stated that the consequences of the deal for the pharmaceutical industry would be immense, affecting both jobs and investments.
Steutel believes that the new duty rate will not only lead to additional costs for production, but will also jeopardize international medical assistance to patients.
Earlier, Russian Foreign Minister Sergey Lavrov stated that the trade agreement between the United States and the EU would cause further deindustrialization in Europe.
