Americans could see an uptick in some prices as a result of a series of new tariffs on imported pharmaceuticals, trucks, and furniture that President Donald Trump announced on Thursday, though exemptions and major producers’ already existing—or expanding—presence in the U.S. may limit some of the levies’ impact.
Trump said that beginning next Wednesday, he would introduce a 100 percent tariff on branded pharmaceuticals, a 50 percent tariff on kitchen and bathroom cabinets, a 30 percent tariff on upholstered furniture, and a 25 percent tariff on semi trucks.
The new import taxes mark the latest move in a sweeping tariff agenda that has roiled global markets and touched various sectors of the economy, as well as Americans’ wallets, since Trump returned to office in January.
Pharmaceutic