Finance
US open to 'creative solutions' on pharma trade with EU, Irish minister says
Published by Global Banking and Finance Review
Posted on July 2, 2025
2 min readLast updated: January 23, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on July 2, 2025
2 min readLast updated: January 23, 2026
US is open to innovative pharma trade solutions with the EU, says Irish minister, amid ongoing tariff negotiations and a looming deadline.
By Conor Humphries
DUBLIN (Reuters) -U.S. Trade Representative Jamieson Greer made clear in a meeting with Irish Trade Minster Simon Harris last month that Washington was open to "creative solutions" on pharmaceutical trade between the U.S. and European Union, Harris said on Wednesday.
"He made it clear that he was open to creative solutions when it comes to pharma and I think that's an important recognition that actually pharma between the U.S. and the EU, the U.S. and Ireland, is much more interdependent than perhaps people were led to believe in certain quarters at the start of this process," Harris told reporters.
The European Union wants immediate relief from tariffs in key sectors as part of any trade deal with the U.S. due by a July 9 deadline, EU diplomats have told Reuters, even as they accept the U.S. baseline tariff of 10% as unavoidable.
The EU also wants a deal to cover commercial aircraft and parts, pharmaceuticals and semiconductors, sectors the U.S. is investigating, but has not yet imposed extra duties on. Trump said in June the pharma duties would be announced "very soon".
"I think it's important to be truthful with people, the EU is negotiating with an administration that believes in tariffs and clearly I think 10% seems to be the baseline in any agreement they (the U.S.) have reached so far," Harris said.
"But we will be seeking at an EU level to maximise the number of sectors where there is zero-for-zero (tariffs)."
Harris highlighted pharma, aviation and agriculture as areas Dublin would like trade between the EU and U.S. to flow freely.
He added that there was a welcome intensity to the talks between the EU and U.S. and that while a brief extension to the July 9 deadline is something that can considered, it would be preferable to at the very least deliver a framework agreement and set forward a roadmap for further engagement on key sectors.
(Reporting by Conor Humphries, writing by Padraic Halpin; editing by William James and Chizu Nomiyama )
U.S. Trade Representative Jamieson Greer expressed openness to 'creative solutions' regarding pharmaceutical trade during a meeting with Irish Trade Minister Simon Harris.
The EU is seeking immediate relief from tariffs in key sectors, including pharmaceuticals, commercial aircraft, and semiconductors, as part of the trade deal with the U.S.
The EU has a deadline of July 9 for the trade deal with the U.S., although a brief extension could be considered.
Irish Trade Minister Simon Harris highlighted pharmaceuticals, aviation, and agriculture as key areas where he would like to see trade between the EU and U.S. flow freely.
The EU is negotiating with a U.S. administration that believes in tariffs, with a baseline of 10% being a common expectation in any agreement.
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