WASHINGTON D.C., DC — President said Thursday that he will put import taxes of 100% on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture and 25% on heavy trucks starting on Oct. 1.
The posts on his social media site showed that Trump's devotion to tariffs did not end with that were launched in August, a reflection of the president's confidence that taxes will help to reduce the government's budget deficit while increasing domestic manufacturing. But the additional tariffs risk intensifying inflation that is already elevated, as well as slowing , as employers getting acclimated to Trump's previous import taxes grapple with new levels of uncertainty.
Trump said on Truth Social that the pharmaceutical tariffs would not apply to companies th