U.S. President Donald Trump has unveiled sweeping new import tariffs, targeting sectors ranging from pharmaceuticals to transportation and home goods. The announcement marks a sharp escalation in trade policy and has triggered fresh global uncertainty after months of relative calm.
Under the new rules, branded drugs imported into the United States will face a 100% tariff but only if producers have not begun building U.S. manufacturing facilities. Heavy-duty trucks will be hit with a 25% duty, while imported kitchen cabinets, bathroom vanities, and upholstered furniture will face tariffs ranging from 30% to 50%. These measures are set to take effect on October 1.
Trump framed the tariffs as essential to protecting U.S. manufacturing and national security. He argued that pharmaceutical companies and furniture makers had for too long shifted production overseas, leaving domestic industries vulnerable.
The pharmaceutical sector, already grappling with supply chain pressures, reacted swiftly. Swiss drugmaker Roche stressed its commitment to U.S. investment, noting that one of its American units has recently begun building a new facility. Meanwhile, furniture industry groups in Vietnam, one of the largest exporters to the U.S., criticized the move as “unfair.”
Economists warn that higher tariffs could worsen inflationary pressures, particularly in the trucking sector, where added costs could push up transportation and consumer goods prices. The U.S. Chamber of Commerce also voiced concern, noting that America’s largest truck import sources Mexico, Canada, Japan, Germany, and Finland pose no security threat.
Global markets responded cautiously. Asian stocks, particularly in pharmaceuticals, dropped, while European shares rebounded after early losses. In the U.S., investors appeared largely unfazed, with mixed futures reflecting a “wait-and-see” approach.
For Trump, the tariffs represent both a political and economic gamble. While they may boost domestic producers in the short term, they risk reigniting trade tensions with allies and driving up costs for American businesses and consumers.
