A meeting involving representatives from major pharmaceutical companies underscored concerns about the impact of U.S. tariffs on global supply chains and the availability of medicines in Europe.

The interconnectedness of U.S. and EU supply chains is critical, with the U.S. relying heavily on European-produced medicines, which generated nearly 90 billion euros in exports in 2023.

In retaliation, the European Commission proposed counter-tariffs of 25% on various U.S. goods, including soybeans and motorcycles.

European pharmaceutical companies have raised alarms that new U.S. tariffs could accelerate the industry's migration from Europe to the United States.

During a meeting with European Commission President Ursula von der Leyen on April 8, 2025, the European Federation of Pharmaceutical Industries and Associations (EFPIA) presented a five-point plan aimed at fostering investment in Europe.

Although pharmaceuticals were not included in the recent tariffs announced by President Trump, he indicated that they would face separate duties in the future.

The new reciprocal tariffs, set to take effect on April 9, 2025, are expected to further deter investment in Europe.

In response to the anticipated U.S. tariffs, the EU is preparing countermeasures, with member countries likely to approve these measures as soon as April 9.

On the same day, shares in the pharmaceutical sector fell globally, with European healthcare stocks dropping significantly as Trump announced a 20% tariff on EU goods.

Industry leaders have consistently warned that without legislative changes, Europe risks falling behind competitors from the U.S., China, and other emerging markets.

A recent survey indicated that 18 European pharmaceutical companies identified up to 103.2 billion euros in capital investments and R&D expenditures as potentially at risk over the next four years due to tariff threats.

The association noted that the U.S. is increasingly favored for investment, citing factors such as capital availability and faster approval processes, which are exacerbated by the new tariffs.