US Imposes 100% Pharma, Trucks, Furniture Tariffs

President Donald Trump announced a sweeping tariff package to take effect Oct. 1 that imposes a 100% duty on “branded or patented” pharmaceutical imports unless the company has broken ground or is already building a U.S. plant, along with roughly 25% on heavy trucks, 50% on kitchen cabinets and bathroom vanities, and about 30% on upholstered furniture. The administration framed the measures as steps to strengthen domestic manufacturing and national security and cited recent Section 232 probes, but provided few legal specifics or clarity on exemptions and how existing U.S. facilities will be treated. Markets and manufacturers reacted with concern — shares of affected truckmakers fell — and analysts warned the levies could raise consumer prices, worsen inflationary pressure, disrupt supply chains and create broad business uncertainty. The tariffs threaten major exporters, including Indian and EU drugmakers, risk reducing medicine access or raising health-care costs, and have prompted some brand-name drugmakers to accelerate U.S. investments, though experts say building capacity quickly enough is uncertain. Overall, the policy marks an escalation of the administration’s tariff campaign and leaves important implementation details unresolved.