Overview

• Starting 1 October, the U.S. plans a 100% duty on brand or patented medicines, a 50% levy on kitchen and bath furniture and related items, and a 25% tariff on heavy trucks, with a pharma exemption for companies already building U.S. plants.
• Trade Commissioner Maroš Šefčovič says the U.S.–EU framework commits Washington to keep EU pharmaceuticals below 15%, and Brussels is sending a formal letter while readying defensive steps.
• The European Commission is preparing measures that include extended duties on Chinese steel derivatives in the 25%–50% range and potential Buy European procurement rules for public projects.
• Legal analysts note uncertainty because parts of the U.S.–EU framework are political rather than fully binding, and some reports say formal U.S. texts for the latest tariff moves have not yet been issued.
• Markets and companies moved quickly, with Asian pharma stocks falling and Novartis saying ongoing construction of U.S. facilities should shield it, as EU exporters in furniture and heavy vehicles assess potential exposure.