Medicines and chemicals are huge exports for European Union countries. That makes the sector a weak spot as trade tensions drag on.According to The New York Times, the European Union heavily relies on the export of medicines and chemicals, making it vulnerable to trade tensions. These products, such as insulin, heart treatments, and antibiotics, have been exempt from tariffs in order to keep them affordable. However, President Trump has been threatening to impose higher tariffs on pharmaceuticals as part of his plan to bring manufacturing industries back to the United States. This could have serious consequences for drugs made in the European Union, as pharmaceutical products and chemicals are their top export to America. Many of these drugs are name-brand and yield high profits in the American market. The potential tariffs have raised concerns about the impact on people’s health, with some companies already announcing plans to increase production in the United States. Others may consider moving production there in the future.
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