Trump says we will impose a new tariff on heavy trucks, drugs and kitchen cabinets Trump’s tariff
Donald Trump announced on Thursday a new round of punishment definitions, saying that the United States will impose a 100 % tariff on imported branded drugs, 25 % tariffs on imports of all hard trucks and 50 % tariffs on kitchen cabinets.
The US President also said that he would start charging a 50 % tariff over the pigeons arrogance and a 30 % tariff on upholstered furniture next week, with all new tasks that are secreted from October 1.
Pharmaceutical companies have warned earlier this year that Americans will suffer more if Trump decides to impose a tariff on medicines.
In 2024, the United States imported approximately $ 233 billion in pharmaceutical and medical products, according to the Statistical Office. The possibility of doubling prices for some medications can send shock waves to voters such as health care expenses, as well as medical care and medical aid costs, may increase.
Pascal Chan, Vice -President of Strategic Policy and Supply Policy chains in the Canadian Chamber of Commerce, warned that definitions may harm Americans’ health through “immediate prices, tense insurance systems, hospital deficiency, and real danger to patients whose history or abandoning basic medicines.”
“We have already been crushed from the highest costs of prescribed medicines in the world, and this will lead to an increase in more,” said 314 Action, a group of supporting the United States that is trying to elect scientists in office. “if [Trump] It passes through these definitions, people will die throughout the country. “
Trump had previously suggested that pharmaceutical tariffs would be eliminated over time so that companies can build factories and transfer production, making the sudden announcement of a 100 % tariff. In CNBC in August, Trump said he would start charging a “small tariff” on medications and raising the rate for more than a year or more to 150 % and up to 250 %.
Trump said on the social truth that pharmaceutical definitions will not apply to companies that build manufacturing factories in the United States, which he knew either by “breaking the land” or “under construction.” It was not clear how definitions would be applied to companies that already have factories in the United States.
Many major pharmaceutical companies, including Astrazneca, Roche, Novartis, Eli Lilly, and Johnson & Johnson, have announced plans to invest in or increase their drugs in the United States in an attempt to prepare for a possible tariff. The White House described Trump these changes as a victory.
The markets fell after the news, as concerns were installed about the effect of the Trump tariff. All three major indexes have decreased in Wall Street, as they have already fallen every day since Monday.
Tokyo, Hong Kong, Shanghai, Sidney, Soulay, Wilngton, Tibbeh and Manila fell on Friday, where some pharmaceutical companies in Japan and South Korea led the road.
Although Trump did not provide a legal justification for definitions, he seemed to provide the limits of his role as a great leader by saying the social truth that taxes on imported kitchen treasures and sofas were necessary for “national security and other reasons.”
He said that the tariff for new hard trucks was protecting manufacturers from “unlike external competition” and said that this step will benefit companies such as Peterbilt, Kenworth and Daimler, the truck owned.
“We need truck drivers to be in good and strong health, for many reasons, but above all, for national security purposes!” Trump added.
The new definitions are another dose of uncertainty for the American economy through a solid securities market, but it weakens expectations for jobs and high inflation. These new taxes can pass on imports to consumers in the form of higher prices and a decline in employment, a process that economic data is already ongoing.
Jerome Powell warned: “We started to see goods prices appear through higher inflation.” In a modern press conferenceAdding that the high costs of goods at the expense of “most” or “all” of the increase in inflation levels this year.
Trump pressed Powell to resign, on the pretext that the Federal Reserve should reduce standard interest rates more because inflation is no longer a concern.
The American Chamber of Commerce urged the administration not to impose a new tariff, noting that the first five import sources are Mexico, Canada, Japan, Germany and Finland.
Trump has launched many national security inquiries in a possible new tariff on a wide range of products. He said that the new definitions on the kitchen, bathroom and some furniture were due to huge levels of imports that were hurting local manufacturers.
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“The reason for this is” the flood “widely for these products to the United States by other external countries,” Trump said.
Mexico is the largest source of medium and heavy trucks to the United States. A study issued in January said that the imports of these largest vehicles of Mexico have multiplied three times since 2019.
High tariffs on commercial vehicles can pressure the transportation costs exactly as Trump pledged to reduce inflation, especially on consumer goods such as groceries.
The customs tariff can also affect Stelantis Chrysler that produces hard random access and commercial trucks in Mexico. The Volvo Group in Sweden is building a $ 700 million heavy factory in Monterrey, Mexico, due to the start of operations in 2026.
Mexico is home to 14 manufacturers, bus complexes, trucks, tractor trucks, and two engines manufacturers, according to the American International Trade Department.
The country is also the world’s leading source of tractor trucks, 95 % of which is dedicated to the United States.
Mexico opposed the new customs tariff, as the Ministry of Trade in May told all Mexican trucks exported to the United States with 50 % American content on average, including diesel engines.
Last year, the United States imported approximately $ 128 billion of heavy vehicle parts of Mexico, which represents about 28 % of the total imports of the United States, Mexico said.
The Japanese Automobile Manufacturers Association also opposed a new tariff, saying that Japanese companies have reduced exports to the United States because they have strengthened the American production of medium and heavy trucks.
Reuters and Associated Press contributed to reporting