Trump Imposes Tariffs Starting Oct 1 Including 100% on Branded Drugs

President Donald Trump announced Thursday that his administration will impose steep new tariffs on a range of imported goods, including a 100 percent duty on branded pharmaceutical products, starting Oct. 1, the president said on his social media platform. The new levies also include 50 percent on kitchen cabinets and bathroom vanities, 30 percent on upholstered furniture and 25 percent on heavy trucks, according to Trump’s posts.

Trump said the pharmaceutical tariff would be waived for companies that are "building" manufacturing plants in the United States, which he defined as either breaking ground or being under construction. He argued the measures will boost U.S. manufacturing, protect domestic producers and help reduce the federal budget deficit, saying foreign-made furniture, cabinetry and heavy trucks are "flooding the United States" and harming American firms. Trump added, "There’s no inflation. We’re having unbelievable success," when speaking to reporters Thursday.

Officials and analysts differed on the timing reported by outlets, with the president specifying Oct. 1 and some reports listing Oct. 1, 2025. It was also unclear how the exemptions would apply to companies...