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United States: New Executive Order to establish “Most-Favored-Nation” drug pricing

By , , , , , , , , , and 7 Mins Read

On May 12, 2025, the White House issued a wide-reaching Executive Order (“EO“) titled “Delivering Most Favored Nation Prescription Drug Pricing to American Patients” for the stated purpose of ensuring that American patients will have access to the most-favored-nation (“MFN“) price for prescription drugs and biologics.1  This EO came out about one month after the release of EO No. 14273 titled “Lowering Drug Prices by Once Again Putting Americans First” (April 15, 2025) which outlined…

UK/US: UK Government and the US Administration Announce Trade Deal on Tariffs and Market Access

By , and 2 Mins Read

The United Kingdom (UK) and the United States (US) have concluded a trade deal covering a range of products and promoting market access for goods. In response to the recent additional tariffs adopted by the US administration, both countries agreed to the following: Additionally, the UK-US trade deal includes: The US administration has also announced that this trade deal includes streamlined customs procedures for US exports, the creation of a secure supply chain for pharmaceutical…

US: Preparing for US national security investigation of imports of pharmaceuticals and pharmaceutical ingredients

By , , , , and 2 Mins Read

In briefThe US Department of Commerce (“Commerce”) has initiated a Section 232 national security investigation into the imports of pharmaceuticals and pharmaceutical ingredients. This investigation aims to determine whether these imports threaten US national security. The scope of the investigation includes finished drug products, medical countermeasures, critical inputs such as active pharmaceutical ingredients (APIs), key starting materials, and derivative products of these items. Commerce may restrict imports of these products through tariffs, quotas, or other…

US Tariffs and the Life Science industry – an update

By , , and 4 Mins Read

Following our previous post here, we provide an update on the current developments in this area. On April 2, 2025, the US administration announced reciprocal tariffs on all imports into the United States (see here). As it has been widely reported, pharmaceutical products were exempted from these tariffs whereas medical devices were not. Subsequently, on April 9, 2025, the administration announced a 90-day postponement of the reciprocal tariffs for most countries except for China. For…

EU: EU and US Agree to 90-Day Tariff Pause: A Step Towards Stabilizing Global Trade

By , , and 1 Min Read

Following the 90-day pause by President Trump on the individualized reciprocal tariffs (see our blog post here), the European Union (EU) followed suit and introduced a 90-day postponement of its retaliatory tariffs aimed at the US. This decision was made to allow both parties to engage in further negotiations and potentially reach a more amicable trade agreement. European Commission President Ursula von der Leyen welcomed President Trump’s decision, stating that the pause would help stabilize…

US: Tariff Hike Targets China, 90-Day Reprieve for Others

By , , and 1 Min Read

Yesterday, President Trump announced a 90-day postponement of the individualized reciprocal tariffs for most countries (see our blog post on these tariffs here), with the notable exception of China. This decision comes amidst ongoing global trade tensions and aims to provide temporary relief to international trade partners. However, the baseline tariff of 10% for most countries worldwide, which took effect on April 5, 2025, remains in place without a specified end date. China had previously indicated…

EU: Highlights of EU Trade Commissioner’s announcement on future of EU-US trade

By , , and 4 Mins Read

Introduction Yesterday Commissioner MaroĆĄ Ć efčovič at the Foreign Affairs Council (Trade) held a press conference following the recent developments following Trump’s “Liberation Day” Tariffs Announcement (see our blog post on that topic here). Commissioner Ć efčovič addressed the current trade landscape between the European Union (EU) and the United States (US), highlighting both the challenges and opportunities for strategic collaboration. The Impact of Tariffs on EU Exports Approximately €380 billion worth of EU exports to the US,…

US: Navigating Global Supply Chain Uncertainty: Force Majeure and Other Doctrines that May Excuse Contractual Performance

By 10 Mins Read

In brief Following the US administration’s extensive new import tariffs, many companies are grappling with increased costs and supply chain uncertainty. What happens when a deal becomes financially unsustainable due to government-imposed trade restrictions? Companies should consider the force majeure and change management clauses in their contracts, and the doctrines of impossibility, impracticability and frustration of purpose under applicable statutes and the common law, to assess whether they are entitled to relief. This article examines these…

US announces suspension of tariffs on certain goods from Canada and Mexico

By , , and 2 Mins Read

In the latest of a series of recent tariff developments, the White House has announced a temporary indefinite suspension of tariffs on certain goods from Canada and Mexico which comply with the United States-Mexico-Canada Agreement (USMCA) origin requirement, effective from 7 March 2025. The tariffs, initially imposed on 4 March 2025, included a 25% duty on Canadian and Mexican goods, with a reduced 10% rate for Canadian energy products. While several White House officials have…

EU imposes new retaliatory tariffs on US products

By , , , , , and 4 Mins Read

There is never a dull moment in the ongoing trade war. With effect of 12 March 2025, the US reinstated the June 2018 Section 232 tariffs on steel and aluminum products at a rate of 25% and extended these tariffs to a larger scope of steel and aluminum products (see our prior blog post on the US Section 232 tariffs here). On 12 March 2025, the EU announced countermeasures which shall protect European businesses and…