US Commerce Secretary Howard Lutnick revealed that a proposed trade agreement with India is currently awaiting President Trump’s approval. With an impending August deadline, Trump has hinted at imposing a significant 15–20% tariff on nations without finalized trade agreements with the US. Additionally, Lutnick disclosed that President Trump will unveil a new pharmaceutical policy in the next two weeks, anticipated to be more rigorous than its predecessor.
The policy is likely to include imposing massive tariffs on companies that do not invest in domestic manufacturing. Following a recent breakthrough with the European Union, Trump confirmed a trade deal on July 27 after discussions with European Commission President Ursula von der Leyen. This agreement, described by Lutnick as a ‘masterclass’ by Trump, was a result of strategic pressure on pharmaceutical and auto exports. The EU-US trade agreement sets the stage for a closer economic relationship between the two entities. While specifics of Trump’s upcoming pharmaceutical policy remain undisclosed, preparations for a comprehensive overhaul are already underway.
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