Trump Announces Fresh Tariffs on Pharmaceuticals, Trucks, and Furniture

U.S. President Donald Trump on Thursday announced sweeping new tariffs on pharmaceuticals, heavy-duty trucks, home renovation fixtures, and furniture, intensifying his trade war strategy.

The move marks the administration’s most aggressive trade action since last April’s rollout of reciprocal tariffs on nearly all major trading partners.

Effective October 1, a 100% tariff will apply to all branded or patented pharmaceutical products unless the manufacturer builds production facilities in the United States, Trump said in a post on Truth Social.

In a separate message, he confirmed a 25% tariff on imported heavy trucks to support American manufacturers such as Peterbilt, Kenworth, Freightliner, and Mack Trucks. Foreign competitors affected include Sweden’s Volvo and Germany’s Daimler, both of which saw their shares fall in after-hours European trading.

Trump said the truck tariffs were justified on “many reasons, but above all else, for national security.” Earlier this year, his administration launched a Section 232 investigation into truck imports to assess their national security implications — a provision of U.S. trade law that grants broad presidential authority to impose tariffs when imports are deemed a threat.

The new measures also target home renovation and furniture imports. Trump announced a 50% tariff on kitchen cabinets, bathroom vanities, and related products, alongside a 30% tariff on upholstered furniture.

According to the U.S. International Trade Commission, imports accounted for 60% of all furniture sold in 2022, including 86% of wood furniture and 42% of upholstered items. Shares of U.S. furniture retailers Wayfair and Williams Sonoma, both heavily reliant on imports, fell sharply after the announcement.

Analysts warn the tariff escalation could further stoke inflation in the U.S., the world’s largest economy.

Trump has repeatedly used tariffs to advance his protectionist agenda, arguing they will strengthen domestic industries and punish countries he accuses of exploiting the United States. His administration has already imposed baseline tariffs of 10% on all countries, with higher rates on those with significant trade surpluses, and has extended duties on Canada, Mexico, and China under emergency powers.

It remains unclear how the latest round of tariffs, set to take effect next week, will be integrated with existing trade measures.