tradeFriday, June 19
The day's trade news is dominated by a new U.S. tariff investigation into Germany's pharmaceutical pricing, a move that could reshape drug costs globally. Meanwhile, fresh data quantifies Brexit's lasting damage to the UK economy, and the Middle East conflict continues to choke fertilizer trade.
The U.S. is taking aim at German drug pricing, opening a new front in trade tensions that could raise costs for European pharmaceuticals.
The U.S. accuses Germany of underpaying for medicines, shifting R&D costs to American patients. This could lead to tariffs on German drugs, escalating a broader trade dispute.
Two separate reports underscore the lingering toll of geopolitical shocks on trade and growth.
Bank of England data puts Brexit's GDP cost at 6%, split between post-referendum uncertainty and higher trade barriers. It's a concrete number for a debate often short on data.
Fertilizer trade has collapsed 30% since January as the Strait of Hormuz closure blocks raw materials and LNG. Farmers are delaying purchases, which could hit crop yields.
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