In a joint statement, 1 the White House and the EU announced the details of what is being called a framework for an agreement on reciprocal, fair, and balanced trade. While the agreement is wide reaching and impacts all goods being imported, pharmaceutical goods are subject to unique rules.

After striking a framework trade deal with the European Union in July, the White House added more details to what the agreement entails Thursday. Most notably, President Donald Trump walked back threats of 250% and 100% tariffs on pharmaceuticals and semiconductors,