President Trump announced on Thursday that new tariffs will be imposed on various imported products starting October 1. The tariffs include a 50% tax on kitchen cabinets and bathroom vanities, a 30% tax on upholstered furniture, and a 25% tax on heavy trucks. Trump stated on Truth Social that these measures are necessary to address the influx of foreign-made furniture and cabinetry in the United States, citing national security concerns and the need to protect domestic producers. Additionally, a 100% tariff will be implemented on branded pharmaceutical products unless the pharmaceutical companies are in the process of constructing manufacturing plants in the U.S. Trump emphasized that the tariffs on pharmaceutical products can be avoided if construction has commenced.
