Pharma braces for tariffs as Trump threatens to buck trade convention

We have already made a few adjustments, possibly more can be considered,

Giorgetti said without giving further details

For better or worse, each country will also have to take its own steps

when responding to U.S. policy ... Giorgetti said

A European continent that sees recession in some of its major countries needs more accommodative monetary policy,

he said, ... adding Rome

It's going to be turbulent, that's going to be part of the challenge for 2025,

Volvo CEO Jim Rowan said at the start of February

Christophe Hansenagriculture Commissioner

We have an Anti-Coercion Instrument, and we will have to use it,

Agriculture Commissioner Christophe Hansen said in Paris after meeting with his French counterpart Annie Genevard at the Salon de l’Agriculture farming exhibition

Europe or the U.S. (alone) will struggle to build competitive manufacturing,

its Director General Adrian van den Hoven said in an email

I think we should be very careful because of unintended impacts on the supply chain.”

He cautioned

Frank Vandenbroucke (politician)health minister

I assume the Commission is thinking about this, thinking ahead and preparing counter-tariffs,

Belgium’s Health Minister Frank Vandenbroucke said at a Polish presidency event in Brussels this month

The general trend of the last decades has been to lower tariffs on pharmaceuticals globally to promote better access to medicines. Pharmaceuticals have not been at the forefront of recent tariff disputes,

said Justine Fassion, an international trade lawyer at Sidley

The climate of uncertainty is already damaging an EU that is struggling with competitiveness,

he added

Bernd Langebroad EU retaliation options in the case of a potential trade war, EU parliamentarian

We will not let ourselves be bullied, not with tariffs nor with threats about our legislation,

said Bernd Lange, a usually mild-mannered German Social Democrat who chairs the European Parliament’s international trade committee

Increased protectionism is not in the interests of businesses or the global economic environment, and would not benefit the EU, Ireland or the U.S.,

it added

You don’t move manufacturing overnight,

said Fassion, the Sidley lawyer

Tariffs would affect both sides of the ocean,

Elisabeth Stampa, board chair at Spanish generics and active pharmaceutical ingredients firm Medichem, told POLITICO, underlining

Such uncertainty complicates investment decisions and strategic planning, making it essential to prepare for various scenarios,

Jacopo Andreose, CEO at Angelini Pharma, told POLITICO in an email

This, and shortages, may inform the EU response when it comes to tariffs. This poses many complex questions to policymakers,

he said

If you have an unfinished product, it needs to be finished and completed before it is turned into revenue and sale,

he said

The real goal of the U.S. is the deindustrialization of our continent,

he said in a statement

Sébastien Lecornufrench Defense Minister

We need to have a firm and proportionate reaction,

French Defense Minister Sebastien Lecornu told France Info in an interview on Thursday

Europe must change the gear: time is up. The measures announced today in Brussels are insufficient,

he added, calling it a "dark hour" for Europe