Trump slaps 100% tariffs on drugs, 25% on heavy trucks and more

President Trump has announced substantial tariffs, including a 100% tax on branded pharmaceutical drugs and other tariffs on kitchen cabinets, furniture, and heavy trucks, aimed at supporting U.S. manufacturing.

Companies that are in the process of building new manufacturing facilities in the U.S. will be exempt from these tariffs, with specific definitions of construction outlined.

The tariffs align with Trump's "America First" strategy, encouraging multinational corporations to operate domestically to boost employment and reduce foreign competition in critical sectors.

Recommendation Rating: Impactful Tariff Policies

U.S. President Donald Trump has unveiled a series of significant tariffs, including a staggering 100% tax on branded and patented pharmaceutical drugs, set to take effect on October 1. However, companies actively involved in constructing new manufacturing facilities within the United States will enjoy an exemption from this tariff.

In a post on Truth Social, Trump clarified that the term "is building" will be defined as either "breaking ground" or "under construction." He emphasized that pharmaceutical products will not incur tariffs if their construction has begun.

In addition to the pharmaceutical tariffs, other proposed levies include a 50% tariff on kitchen cabinets and bathroom vanities, a 30% tariff on upholstered furniture, and a 25% tariff on heavy trucks. Trump stated, "We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!" in his Truth Social account.

He asserted that prominent truck manufacturers, including Peterbilt, Kenworth, Freightliner, Mack Trucks, and others, will be safeguarded against external competition due to these tariffs.

This announcement is consistent with Trump's "America First" strategy, leveraging tariffs to incentivize multinational corporations to establish operations in the U.S., reduce foreign supply influx, and enhance domestic employment in the pharmaceutical and manufacturing sectors.

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