BRUSSELS (Reuters) -The European Union and Japan expressed confidence on Friday that they had secured limits on U.S. tariffs on pharmaceuticals, which President Donald Trump said he would impose next week at a rate of 100%.

The European Commission referred to a joint statement agreed with the United States following its end-July trade deal, which states that the tariff for pharmaceuticals, semiconductors and lumber would not exceed 15%.

“This clear all-inclusive 15% tariff ceiling for EU exports represents an insurance policy that no higher tariffs will emerge for European economic operators. The EU is the only trade partner to achieve this outcome with the US,” a Commission spokesperson said.

Japan also referred to its joint statement with Washington, which said that U.S. tariff rates

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