U.S. to impose tariffs on pharmaceutical drugs, kitchen cabinets, furniture and heavy trucks

President Trump announced Thursday that the U.S. would impose a new round of tariffs, including a 100% tariff on pharmaceutical drugs, a 30% tariff on upholstered furniture, a 50% tariff on kitchen cabinets and bathroom vanities, and a 30% tariff on heavy trucks. 

In social media posts to Truth Social, Mr. Trump said the new tariffs would take effect Oct. 1. 

Mr. Trump said in his posts that the 100% tariff on "any branded or patented Pharmaceutical Product" would not apply to companies building manufacturing plants in the U.S., which he defined as either "breaking ground" or being "under construction."

In 2024, America imported nearly $233 billion in pharmaceutical and medicinal products, according to the Census Bureau. The prospect of prices doubling for some medicines could send shockwaves to voters as health care expenses, as well as the costs of Medicare and Medicaid, potentially increase.

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