"US President Donald Trump on Thursday announced new punitive tariffs on a wide range of imported goods to come into effect on October 1. These include tariffs of 100% on branded pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy-duty trucks. The announcements did not specify whether the new tariffs would apply in addition to other national tariffs or whether countries and regions with trade deals, such as the European Union and Japan, would be exempted."
"Trump said a new tariff of 100% will be applied to all branded or patented pharmaceutical products imported into the United States, unless the company has already started building a manufacturing plant in the country. Announcing tariffs on furniture, Trump wrote on Truth Social that the reason for this was the large-scale "flooding" of such products into the United States by other countries, and stated that taxes on imported kitchen cabinets and sofas were needed "for national security and other reasons.""
"Trump stressed that the new tariffs on heavy-duty trucks were intended to protect US manufacturers from "unfair outside competition," and that companies such as Paccar-owned Peterbilt and Kenworth, as well as Daimler Truck-owned Freightliner, would benefit from the move. The US Chamber of Commerce had called on officials not to impose new truck tariffs. It said the top five truck import sources were Mexico, Canada, Japan, Germany and Finland "all of which are allies or close partners of the United States posing no threat to US national security.""
New punitive tariffs will take effect on October 1 covering pharmaceuticals, furniture and heavy-duty trucks. Tariffs include 100% on branded or patented pharmaceutical imports, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy-duty trucks. The measures do not specify whether they stack on existing national tariffs or whether trade partners with deals will be exempt. The pharmaceutical tariff includes an exception if a company has already begun building a US manufacturing plant. Justifications cited include preventing product "flooding," national security, and protecting domestic manufacturers, while industry groups warned of allied suppliers being affected.
Read at www.dw.com
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