Trump Unveils Tariffs Including 100% Drug Duty
Trump Unveils Tariffs Including 100% Drug Duty

Trump Unveils Tariffs Including 100% Drug Duty

News summary

President Trump announced a package of sector-specific tariffs taking effect Oct. 1, 2025 — 100% on branded/patented pharmaceuticals (exempt for companies “building” U.S. plants, defined as having broken ground or being under construction), 50% on kitchen and bathroom cabinets/vanities, 30% on upholstered furniture and 25% on heavy trucks. The administration framed the measures under Section 232 national-security reviews and as part of a broader expansion of trade probes. Many major drugmakers — including Johnson & Johnson, Eli Lilly (which announced roughly $11.5 billion in new U.S. facilities), Merck, Novartis, Roche and Sanofi — have announced or begun U.S. investments that analysts say could blunt the tariff’s impact, though construction timelines may keep some projects from meeting the Oct. 1 cutoff. The 25% truck tariff raises particular risks for Mexico, the largest exporter of medium- and heavy-duty trucks to the U.S., unless USMCA-compliant vehicles are exempted. Economists warn the levies could push up consumer prices and damp hiring and investment, but market reactions have been mixed so far, with some U.S. truck makers’ shares (e.g., Paccar) rising as firms reposition to limit exposure.

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Left 64%
Center 27%
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13
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7
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3
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1
Unrated
2
Last Updated
18 days ago
Bias Distribution
64% Left
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