AstraZeneca Announces Deal Delaying Section 232 Tariffs for 3 Years
Pharmaceutical company AstraZeneca reached a deal with the Trump administration that will delay Section 232 tariffs for three years, the company announced in an Oct. 10 press statement.
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The company said that it had reached an agreement with the Commerce Department to "lower the cost of prescription medicines" in return for the tariff delay, which will give the company time to "fully onshore medicines manufacturing" for drugs sold in the U.S.
In a White House fact sheet, the Trump administration said that, as part of the deal, AstraZeneca was required to "offer medicines at a deep discount" when selling directly to Americans and that the company will invest $50 billion "in U.S. manufacturing and research and development by 2030."
This is the second deal the Trump administration has made with a pharmaceutical company to delay tariffs in recent weeks (see 2510010046).