The UK’s medicine supply could be disrupted by sweeping tariffs imposed by Donald Trump, the health secretary has warned, saying cabinet ministers are doing their best to mitigate the impacts of an “extremely volatile and turbulent” situation.
It comes after the US president said he is not looking to pause the tariffs which have plunged global markets into turmoil.
Wes Streeting said there are a “number of factors at play” when it comes to the UK’s supply of medicines, including manufacturing and distribution challenges, but warned that tariffs pose “another layer of challenge”.
Speaking to Sky News, the health secretary added: “We watch this situation extremely closely. We work on a daily basis to make sure that we have the medicine supply this country needs.
“Where we do see disruptions to supply, we also take steps at the dispensing end to show the flexibility needed to make sure people can access the prescriptions they need.
“But whether it’s medicines, whether it’s parts for manufacturing, whether it’s global trade, more generally, this is an extremely volatile and turbulent backdrop for the country, and that’s why the prime minister, the trade secretary, the entire Cabinet are focused on this and making sure that we’re taking the steps needed here at home to protect British industries and Britain’s public services”.
The trade taxes Mr Trump imposed on goods from most countries resulted in the value of US stocks dropping sharply when markets opened on Monday, following falls in London and across Europe and Asia earlier.
The UK government is currently attempting to negotiate a deal which would exempt British industry from the sweeping tariffs, with Downing Street saying the talks are at an “advanced stage”.
This is a breaking story. Updates to follow…