President Donald Trump announced his newest round of tariffs targeting pharmaceuticals, home goods and heavy trucks will take effect on October 1st. In one post, he declared that branded and patented pharmaceutical products will face a 100% tariff unless the company is actively building a plant in the United States. He went on to define that as breaking ground or under construction. He also said he will impose a 25% tariff on heavy trucks built outside the U.S., a move aimed at shielding domestic companies such as Peterbilt, Kenworth, Freightliner and Mack Trucks. Trump also announced plans to stop the “flooding” of imports that threaten American manufacturers by imposing a 50% tariff on kitchen cabinets, bathroom vanities and related products, and a 30% tariff on upholstered furniture. LiveNOW’s Mike Pache spoke about this latest round of tariffs with trade attorney Michelle Schulz.
President Trump announces new round of tariffs on drugs, trucks and furniture
