U.S. reaches deal with U.K. on higher drug prices

The United Kingdom will pay 25% more for new medications as part of a deal to avoid U.S. tariffs on Britain's drug exports to the U.S., a key step in President Donald Trump's push to get other nations to pay more for pharmaceuticals that he says U.S. consumers unfairly subsidize.

The deal also includes continued investment by U.K. pharmaceutical companies in the U.S., which U.S. officials said would strengthen American pharmaceutical development and manufacturing.