US President Donald Trump on Thursday unveiled another round of sweeping import taxes, declaring he will slap tariffs of up to 100 per cent on goods ranging from pharmaceutical drugs to kitchen cabinets.
“I’m putting a 100 per cent import tax on pharmaceutical drugs unless the companies are building plants right here in the United States,” Trump said on Truth Social. “Breaking ground, under construction, that’s the deal. No exceptions.”
Trump’s latest tariff blitz, set to take effect October 1, includes a 50 per cent tax on kitchen cabinets and bathroom vanities, 30 per cent on upholstered furniture, and 25 per cent on heavy trucks.
Foreign producers, he argued, were undercutting US companies. “Furniture and cabinetry are flooding the United States. Heavy trucks and parts are hurting ou