President Donald Trump announced Thursday that on October 1st he will slap steep tariffs on big trucks, household furnishings, and pharmaceuticals.
Trump announced the new policy in a series of posts on Truth Social. In the post about pharmaceuticals, the president said his administration “will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America.”
Another post announced 50 percent tariffs on kitchen cabinets and bathroom vanities and a 30 percent tariff on upholstered furniture. “The reason for this is the large scale ‘FLOODING’ of these products into the United States by other outside Countries,” Trump wrote.
The post on truck tariffs said a 25 percent tariff would apply “on all ‘Heavy (Big!) Trucks’ made in other parts of the World.” Trump said the move was necessary for national security.
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