StripeyGran
Perhaps OP will return soon with some salient points.
Here you go âŠ
â5:43pm today
Blow for Ireland as Trump rules out pharma deal
Donald Trump insisted âpharmaceuticals wonât be a part ofâ any trade deal today with the EU.
That is particularly bad news for Ireland, which exported just shy of âŹ100bn of medical and pharmaceutical goods last year, much of it to the critical American market. Sales to the US boomed further in the early months of this year as importers sought to bring in supplies before border taxes came in.
The worldâs biggest pharma companies, including Pfizer, Novartis and AstraZeneca all have major operations in the country. The Trump administration has argued that low taxes and incentives to invest in Ireland have unfairly pulled research and development as well as manufacturing out of the US and into the Celtic nation.
The presence of major multinationals in Ireland has helped transform its economy, and to deliver an extraordinary boost to its public finances - which may be at risk if the US President finds ways to force companies, workers and factories to move across the Atlantic.
Mr Trump said there is a 50-50 chance of a trade deal with the EU, but said âpharmaceuticals wonât be a part of it.â
âWe have to have them made in the US, we want them made in the US. Pharmaceuticals are very special,â he said.
âWe canât be in a position where we are relying on other countries. Europe is going to make pharmaceuticals, drugs and everything else for us too, a lot, but we are going to make our own.â
Source the Telegraph latest just now.