Trump Announces New US Tariffs on Drugs, Trucks, and Furniture

In a major trade move, President Donald Trump has announced sweeping new tariffs on imports of branded drugs, heavy-duty trucks, and certain types of furniture, set to take effect next week. The announcement signals an escalation in the ongoing trade measures aimed at reducing the US trade deficit and protecting domestic industries.

According to the administration, imported branded drugs will face a 100% duty, while heavy-duty trucks will incur a 25% tariff. Certain furniture imports are also included, reflecting a broader strategy to encourage domestic production and limit reliance on foreign suppliers.

The White House statement emphasized the administration’s commitment to safeguarding American jobs and industries while encouraging global trading partners to engage in fair trade practices. Analysts, however, have warned that the tariffs could have unintended consequences, including increased prices for US consumers, disruptions to supply chains, and retaliatory measures from affected countries.

Healthcare industry leaders have expressed particular concern over the 100% tariffs on branded drugs, noting that such a move could significantly impact drug availability and costs in the US. Meanwhile, the trucking and furniture sectors may face supply chain disruptions and higher input costs.

Economists suggest that while the tariffs could protect some domestic manufacturers, they may also provoke international disputes, especially with countries like China, the EU, and Canada, potentially leading to retaliatory tariffs. The move is expected to be debated widely in Congress and could influence upcoming elections and trade negotiations.

The Trump administration has framed the tariffs as a necessary step to strengthen the US economy, promote domestic industry, and reduce reliance on foreign imports, while critics caution that the short-term political gain may come with long-term economic costs.