President Donald Trump on Thursday rolled out a sweeping new tariff package targeting imports across pharmaceuticals, heavy-duty trucks, furniture, and household goods. The measures, to take effect from October 1, include 100% duties on branded or patented drugs, 25% tariffs on heavy trucks, 50% on kitchen cabinets and bathroom vanities, and 30% on upholstered furniture.
Announcing them via his social platform Truth Social, Trump emphasized that the move was intended to counter what he called the “large scale ‘FLOODING’” of low-cost imports into the U.S. market.
Under the plan, the 100% tariff will target all branded or patented pharmaceutical products, unless the company has already “broken ground” on manufacturing facilities in the United States (i.e. construction underway).
Generics, non-branded drugs, are not expected to be affected by this specific levy.
Heavy trucks: 25% tariff on imports of heavy-duty vehicles.
Kitchen cabinets & bathroom vanities: 50% tariff.
Upholstered furniture: 30% tariff.
President Donald Trump framed the increased rates as protection for U.S. manufacturing from unfair foreign competition. He cited companies such as Peterbilt, Kenworth, and Freightliner as beneficiaries of the new truck duties.
Trump’s announcements did not clarify whether the new duties would be layered on top of existing national tariffs, or whether exemptions would apply for countries under trade agreements (e.g. the EU, Japan).
Some trade pacts with the EU, Japan, and the U.K. already include caps on tariffs for sectors like pharmaceuticals and autos, which could restrain how high the national security tariffs can rise.
Analysts also note that the administration appears to be depending more on established legal authorities (e.g. Section 232) to justify the new tariffs, possibly as a precaution against pending Supreme Court challenges to Trump’s sweeping trade policies.
In immediate response, pharmaceutical stocks in Asia fell sharply — including a more than 4% decline for Sumitomo Pharma and a plunge to six-year lows for Australia’s CSL.
Furniture and timber sectors were also affected: an index tracking Chinese furniture makers dropped by about 1.1%.
The tariffs raise the specter of higher costs downstream, especially for logistics, home goods, and medical supplies — all sectors already sensitive to inflationary pressures.
In particular, commercial vehicles becoming costlier could amplify transport costs, undermining Trump’s stated goal of reducing inflation.
Trade partners such as Mexico, Japan, and the EU have expressed concern. Mexico especially has objected, noting that many of its trucks destined for the U.S. contain substantial U.S. content (sometimes 50%), and that the tariffs threaten deeply integrated supply chains.
Industry groups have also warned that the measures may disrupt the momentum of ongoing investments in U.S.-based production. The Pharmaceutical Research and Manufacturers of America said the tariffs could undermine “hundreds of billions in new U.S. investments.”
Since the start of his second presidency, Trump has escalated import levies across metals (steel, aluminum, copper), autos, semiconductors, and more.
The average U.S. applied tariff rate has surged, reaching levels not seen in over a century.
These new tariffs align with a broader strategy of using trade policy as leverage in diplomacy, renegotiations, and geopolitical pressure.
President Trump’s sweeping tariff announcement marks a dramatic escalation in U.S. trade policy, with 100% duties on branded pharmaceuticals, 25% on heavy trucks, and steep levies on furniture and cabinetry.
While intended to protect American industries and generate revenue, the policy is fraught with legal, diplomatic, and economic risks. The uncertainty over exemptions, overlapping tariffs, and retaliation from trade partners will keep markets on edge.
The next few weeks will test whether the U.S. can manage inflationary fallout and legal challenges—or whether global trade tensions spiral further.