Trump to put import taxes on pharmaceutical drugs, kitchen cabinets, furniture and heavy trucks
President Trump said on Truth Social that he is putting a 100% import tax on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture and 25% on heavy trucks starting on Oct. 1. AP
President Donald Trump announced Thursday that his administration will impose steep new tariffs on a range of imported goods starting October 1. The plan includes a 100% tariff on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks.
The announcement, made through posts on Truth Social, underscores Trump’s continued commitment to tariffs as a tool to strengthen domestic manufacturing and reduce the federal deficit. He justified the measures by citing “National Security and other reasons,” particularly with respect to furniture and cabinetry imports.
The move adds new uncertainty to the U.S. economy. While the stock market remains strong, analysts warn the tariffs could fuel inflation, drive up consumer prices, and weigh on hiring. Federal Reserve Chair Jerome Powell recently noted that higher goods prices are already contributing to rising inflation, though Trump has repeatedly dismissed such concerns and continues to pressure Powell to cut interest rates.
Trump clarified that the pharmaceutical tariffs would not apply to companies currently building or expanding manufacturing plants in the United States. In 2024, the U.S. imported nearly $233 billion worth of pharmaceutical products, meaning the policy could significantly impact health care costs, Medicare, and Medicaid. Critics, including Canadian Chamber of Commerce vice president Pascal Chan, warned of “immediate price hikes, strained insurance systems, hospital shortages, and the real risk of patients rationing or foregoing essential medicines.”
The tariffs also target the housing and trucking sectors. Industry groups warn the higher costs for cabinetry could further burden homebuilders already struggling with shortages and high mortgage rates. Meanwhile, Trump said tariffs on heavy trucks and parts are designed to shield American manufacturers such as Peterbilt, Kenworth, Freightliner, and Mack Trucks from foreign competition.
The president acknowledged that past tariffs, particularly on China, hurt American farmers through retaliatory measures. As he did in his first term, Trump pledged to redirect tariff revenues to support farmers who may be affected.
Despite ongoing debate about their effectiveness, Trump hailed the tariffs as a major victory for U.S. workers and industries. “We’re having unbelievable success,” he told reporters Thursday.
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