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Major pharmaceutical firms have paused or canceled over £2bn in UK investments this year amid concerns over drug pricing policies, US pressure for price parity, and a deteriorating investment climate. Industry warnings highlight risks to future drug development and supply chains.
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Recent US tariffs and trade negotiations are reshaping global supply chains. Europe and Southeast Asia face new barriers, while US allies like South Korea and Australia grapple with demands for large investment packages and tariffs on pharmaceuticals and semiconductors. The impact on regional economies is significant today, October 6, 2025.
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On October 1, 2025, the US implemented new tariffs: 100% on branded pharmaceuticals (exempting firms building US plants), 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks. Citing national security, the administration aims to protect domestic manufacturing but risks raising consumer costs and complicating economic policy amid inflation concerns.
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China's state-owned buyer, China Mineral Resources Group, has instructed steelmakers and traders to halt purchases of dollar-denominated seaborne iron ore from BHP, escalating a trade dispute amid ongoing contract negotiations. Australian Prime Minister Albanese expressed concern, emphasizing the importance of free trade and the potential impact on both economies. The move follows China's efforts to strengthen its bargaining position in global iron ore markets.
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China has expanded restrictions on rare-earth metals, now controlling 12 of 17 key elements, as part of a broader trade and geopolitical strategy. The US has responded with port fees on Chinese vessels, escalating maritime tensions. Australia offers to supply critical minerals, signaling shifts in global supply chains. Today's date: Tue, 21 Oct 2025 23:04:28 +0100.
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During Prime Minister Albanese's US visit, Australia's ambassador Kevin Rudd faced criticism from President Trump over past comments. Despite the incident, Albanese praised Rudd's work, and the trip resulted in a critical minerals deal and reaffirmed the AUKUS alliance. Opposition calls for Rudd's dismissal persist.
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Australian farmers in Victoria express concern over government’s critical minerals deal with the US, fearing environmental damage and loss of farmland. The government fast-tracks mining projects amid community protests, raising questions about environmental protections and community involvement in decision-making.