US President Donald Trump on Thursday announced a new round of sweeping tariffs targeting pharmaceuticals, heavy trucks, and home renovation products, escalating his trade war with global partners.
Gatekeepers News reports that in a late-evening post on his Truth Social platform, Trump said that beginning October 1, “we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America.”
The measure drew swift criticism from Australia, which exported about $1.35 billion worth of pharmaceuticals to the United States in 2024, according to UN trade data. Australian Health Minister Mark Butler said Friday the tariffs were “not in the American consumers’ interest… particularly given the degree to which their exporters to Australia benefit from that free trade as well.”
Trump also announced a 25% tariff on “all ‘Heavy (Big) Trucks’ made in other parts of the world,” citing both economic and security concerns. “The tariffs are for many reasons, but above all else, for National Security purposes!” he wrote. The move follows a Section 232 probe launched earlier this year into truck imports under trade law provisions that allow tariffs if imports are deemed a threat to national security.
The new measures are expected to hit European truck makers Sweden’s Volvo and Germany’s Daimler, whose shares fell sharply in after-hours trading. Daimler, notably, owns US brands Freightliner and Western Star, which could face complicated competitive pressures under the tariffs.
Trump also imposed tariffs on home renovation materials, declaring: “We will be imposing a 50% Tariff on all Kitchen Cabinets, Bathroom Vanities and associated products” starting October 1. He added that “a 30% Tariff on Upholstered Furniture” would also take effect.
According to the US International Trade Commission, imports account for 60% of all furniture sold in the country, including 86% of wood furniture and 42% of upholstered furniture. Shares in retailers Wayfair and Williams Sonoma tumbled in after-hours trading following the announcement.
The sweeping tariff package has reignited fears of higher inflation in the world’s largest economy. Trump has made protectionist trade policies a centerpiece of his presidency, rolling back decades of open-market practices. His administration has already imposed a baseline 10% tariff on all imports, with higher rates on countries where exports to the US outweigh imports.
He has also invoked emergency powers to place tariffs on Canada, Mexico, and China, citing concerns from drug trafficking to illegal immigration. It remains unclear how the latest tariffs will interact with existing measures when they take effect next week.
