US EditionTrump says US will impose new tariffs on heavy trucks, drugs and kitchen cabinets
Tariffs aim to protect U.S. manufacturers and address national security concerns, with pharmaceutical imports valued at nearly $233 billion facing a 100% duty, effective October 1.
- U.S. President Donald Trump announced punitive tariffs on heavy-duty trucks, pharmaceutical drugs, kitchen cabinets, bathroom vanities, and upholstered furniture to start October 1, 2025.
- Trump justified the tariffs by citing national security concerns and unfair outside competition from large-scale imports harming domestic manufacturers and truckers.
- The tariffs will include a 100% duty on branded pharmaceutical drugs unless a U.S. manufacturing facility is already being developed, 25% on imported heavy-duty trucks, 50% on bathroom vanities and kitchen cabinetry, and 30% on furniture that is upholstered.
- Trump highlighted the importance of safeguarding major American heavy-duty truck makers, including brands like Peterbilt, Kenworth, Freightliner, and Mack, from foreign competition, stressing that supporting truckers is vital for national security.
- The tariffs face opposition from allies like Mexico and Japan, risk raising consumer prices, and come amid ongoing inflation and hiring weaknesses in U.S. manufacturing.
564 Articles
564 Articles
Trump to place import taxes on drugs, home furnishings and heavy trucks
President Donald Trump said Thursday that he will put import taxes of 100% on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture and 25% on heavy trucks starting on Oct. 1.The posts on his social media site showed that Trump’s devotion to tariffs did not end with the trade frameworks and import taxes that were launched in August, a reflection of the president’s confidence that taxes will help to red…
Trump to impose tariffs on drugs, trucks, furniture Oct. 1 | Honolulu Star-Advertiser
WASHINGTON >> President Donald Trump on Thursday announced a slew of punishing tariffs on pharmaceuticals, heavy trucks, kitchen cabinets, bathroom vanities and upholstered furniture, saying import taxes on those products would go into effect Oct. 1.
Trump Administration to Enact Sweeping Pharmaceutical Tariffs, Expected to Announce New Phase in Drug Pricing Plan
President Trump is expected to announce a next step in his plan related to “most favored nation” drug pricing, potentially including an unpublished Centers for Medicare & Medicaid Services drug pricing pilot program. The White House had previously given drugmakers until September 29th to offer “most favored nation” prices matching those of other developed nations.As part of a flurry of Truth Social posts yesterday evening, President Trump also a…
Washington DC, United States.- The new tariff announced by President Donald Trump on Thursday against heavy truck imports would hit mainly, if there are no exceptions, Mexico and Canada from where 80 percent of the medium and heavy trucks arriving in the United States come. Scheduled to enter into force on October 1, Trump's 25 percent tariff is directed according to a message from Trump on the social network Truth Social against imports of heav…
Markets Adjust to Trump Tariffs: Implications for Pharma and Truck Industries - Real News Now
Currently, the most engaging stories and organizations are dominating the headlines. Prevalent discussions are highlighting the Pharma and truck industries that are reacting to Trump’s recent tariff pronouncements. The upswing of stock futures is drawing attention post the disclosure of the latest inflation figures. In the early session of evening trading, American equity futures are gaining steady momentum. The current market dynamics suggest a…
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