WASHINGTON: United States President Donald Trump announced on Thursday (Sep 25) new tariffs on pharmaceuticals, big-rig trucks, home renovation fixtures and furniture.
Starting Oct 1, “we will be imposing a 100 per cent tariff on any branded or patented pharmaceutical product, unless a company IS BUILDING their pharmaceutical manufacturing plant in America”, the Republican wrote on his Truth Social platform.
In a separate post, he wrote of a 25 per cent tariff on “all ‘heavy (big) trucks’ made in other parts of the world” to support US manufacturers such as “Peterbilt, Kenworth, Freightliner, Mack Trucks and others”.
He said the truck tariffs were “for many reasons, but above all else, for national security purposes”.
Earlier this year, the Trump administration launched a probe into imports of trucks to “determine the effects of national security”.
The real estate tycoon also targeted home renovation materials, writing that “we will be imposing a 50 per cent tariff on all kitchen cabinets, bathroom vanities and associated products” as of Oct 1.
“Additionally, we will be charging a 30 per cent tariff on upholstered furniture,” he added.
