WASHINGTON: United States President Donald Trump has announced new tariffs targeting pharmaceuticals, heavy trucks, and home renovation materials.
Starting October 1, his administration will impose a 100% tariff on all branded or patented pharmaceutical products unless companies build manufacturing plants in America.
Trump announced the measure on his Truth Social platform to encourage domestic pharmaceutical production.
He separately revealed a 25% tariff on all heavy trucks manufactured outside the United States.
This tariff aims to support American manufacturers including Peterbilt, Kenworth, Freightliner, and Mack Trucks.
Trump cited national security as the primary reason for imposing tariffs on truck imports.
The Trump administration had earlier launched an investigation into truck imports to assess their national security implications.
Additionally, Trump targeted home renovation materials with a 50% tariff on kitchen cabinets, bathroom vanities, and associated products.
He also announced a 30% tariff on upholstered furniture effective from October 1.
These measures represent the latest in a series of trade actions by the Trump administration. – AFP