President Donald Trump announced another round of wide-ranging tariffs on Thursday, sparking questions about their implications for consumers and businesses.
In a series of messages to Truth Social, Trump announced plans to impose a 25% tariff on all “heavy” trucks made outside the United States. A 50% tariff “on all Kitchen Cabinets, Bathroom Vanities, and associated products” and a 30% Tariff on upholstered furniture is also coming, the president revealed. In addition, certain foreign companies will face a 100% tariff on any “outside branded or patented” pharmaceutical product, “unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,” Trump said.
All of the tariffs are set to take effect on October 1.
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The pharmaceutical tariffs
The pharmaceutical tariffs appear to entail sweeping consequences. According to
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