The U.S. government announces a landmark agreement with the UK on drug pricing.

On December 1st local time, the United States Trade Representative's Office announced a principle agreement between the US and UK on drug pricing. The USTR stated that the agreement requires the UK's National Health Service to increase the net price of new drugs by 25%, and also ensures that UK pharmaceutical companies can continue to invest in the US. The US has agreed to exempt drugs, drug ingredients, and medical technology originating from the UK from Section 232 tariffs, and will not initiate a "301 investigation" into UK drug pricing during President Trump's term.