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President Donald Trump unveiled a sweeping new round of tariffs on Thursday night, targeting a range of products, including pharmaceuticals, kitchen cabinets, furniture, and heavy-duty trucks, effective Oct. 1.
The new levies—ranging from 25% to 100%—are poised to ripple through the economy, increasing costs across housing, health care, manufacturing, and transportation. The steepest penalty, a 100% tariff, will apply to “any branded or patented” pharmaceutical product imported into the United States, unless the importing company is actively building a manufacturing plant in the U.S.
Trump also announced a 50% tariff on imported kitchen cabinets, bathroom vanities, and related products, as well as a 30% tariff on upholstered furniture and a 25% tariff on foreign-made heavy trucks. He argued that the truck tariffs will protect domestic manufacturers from “unfair outside competition” and boost companies such as Peterbilt, Kenworth, and Freightliner.
The move deepens uncertainty over U.S. trade policy just as Canada, Mexico, China, and South Korea are still in negotiations—and as courts weigh whether Trump’s earlier tariffs are even legal.
It also lands at a moment when prices are rising. Americans are paying more for everything from appliances and toys to food and cars, and August inflation hit its highest level since January. Rising jobless claims have some economists warning of stagflation—a brutal mix of high inflation, high unemployment, and stagnant economic growth.
That hasn’t deterred Trump, of course. He has long argued that surging imports are harming U.S. manufacturers.
“The reason for this is the large scale ‘FLOODING’ of these products into the United States by other outside Countries,” he said, citing alleged threats to the domestic manufacturing base.
According to The Washington Post, which cited data from the Bureau of Labor Statistics, furniture prices have already been running hotter than overall inflation for three straight months. Prices for new trucks have risen more slowly, but these latest tariffs could reverse that trend, driving up transportation costs at a time when Trump has promised to lower prices.
Pharmaceutical tariffs, although lower than the 250% figure Trump once proposed, could still lead to increased health insurance premiums. The American Hospital Association warned in May that tariffs could significantly increase drug prices since nearly 30% of U.S. drug ingredients are sourced from China. It also projected that hospital costs could rise at least 15%, and insurers have already started pricing in higher premiums.
Trump’s announcement hinted that some of the most widely used drugs might be exempt, especially for companies currently building U.S. manufacturing plants. A trade deal struck in July could also shield many brand-name drugs imported from Europe.
Still, the U.S. Chamber of Commerce urged the administration not to impose new tariffs, stressing that top U.S. suppliers—Mexico, Canada, Japan, Germany, and Finland—are allies posing “no threat to U.S. national security.”
Mexico, the top exporter of medium- and heavy-duty trucks to the U.S., has warned that the tariffs would disrupt supply chains. Imports of these trucks from Mexico have tripled since 2019, according to a study cited by NBC News. And 95% of Mexico’s tractor-truck exports go to the U.S.—half of them built with American-made components. Automakers like Stellantis and Volvo, which build or plan to build trucks in Mexico, could see production costs soar.
Japan’s auto industry association has also pushed back, arguing its members have already shifted production to U.S. plants to cut exports.
Trump, meanwhile, insists the tariffs are needed to keep the industry strong.
“We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!” he posted to social media.
Trump’s tariff rollout leaves plenty of questions unanswered. But one thing is clear: Americans are about to feel the impact. From the medicine in your cabinet to the cabinets themselves—and the trucks that deliver them—prices are set to rise, and soon, Americans will be paying the bill.
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