Donald Trump’s Big Decision: Heavy Import Tariffs on Foreign Medicines, Furniture, and Trucks
Washington (The Uttam Hindu): U.S. President Donald Trump has once again surprised the world by announcing new tariffs. This time, Trump declared heavy import duties on foreign pharmaceuticals, kitchen cabinets, furniture, and trucks, stating that the move is aimed at protecting American industries and national security.
According to his announcement, the new tariff structure will take effect from October 1. Posting on his social media platform “Truth Social,” Trump said the measures are necessary to strengthen American truck drivers, the manufacturing process, and the economy.
Specifically, Trump announced a 25% tariff on heavy trucks manufactured outside the U.S. He emphasized that this would shield major American companies like Peterbilt, Kenworth, Freightliner, and Mack Trucks from unfair foreign competition.
Similarly, he imposed a 50% tariff on kitchen cabinets, bathroom vanities, and related products, along with a 30% tariff on upholstered furniture. Trump claimed these imports are “flooding” the American market, undermining fair trade, and that national security and manufacturing interests must be protected.
The toughest move, however, came in the pharmaceutical sector. Trump announced a 100% tariff on branded or patented pharmaceutical products. However, he allowed an exemption for companies that set up manufacturing plants in the U.S. “This will boost the American pharmaceutical industry and reduce foreign dependence,” he said.
Trump also praised the state of the U.S. economy, pointing to positive growth numbers of about 3.8%. He criticized Federal Reserve Chair Jerome Powell, whom he mockingly called “Jerome Too Late Powell,” blaming him for high interest rates. According to Trump, without Powell’s missteps, the U.S. could already be at 2% interest rates and closer to balancing the budget. He concluded by promising that America is overcoming these challenges and is on the path to “unprecedented success.”