President Trump late Thursday announced a smorgasbord of new tariffs on foreign pharmaceuticals, heavy trucks and kitchen and bathroom decor.
The trifecta of levies signals that Mr. Trump is leaning into presidential powers that allow him to impose tariffs if he feels foreign entities are acting unfairly or against Amerca’s national security interests.
Mr. Trump said drugmakers will face a whopping 100% tariff on branded or patented drugs unless the company is building a plant within the U.S.
“There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started,” Mr. Trump wrote on Truth Social.
A number of drugmakers announced U.S.-based investments in recent months, but the tariffs could impact a suite of drugs if Europe-based companies and others don’t meet the president’s criteria.
Mr. Trump also ordered a 50% tariff on all kitchen cabinets, bathroom vanities and associated products, and a 30% tariff on upholstered furniture.
“The reason for this is the large scale ’FLOODING’ of these products into the United States by other outside countries. It is a very unfair practice, but we must protect, for national security and other reasons, our manufacturing process,” he wrote.
Mr. Trump recently encouraged artisans in North Carolina and other furniture-producing states to rev up their production, though some in the furniture industry have expressed doubt about the ability of American manufacturers to produce products at scale.
Third, Mr. Trump imposed a 25% tariff on heavy trucks made outside the U.S.
“Therefore, our Great Large Truck Company Manufacturers, such as Peterbilt, Kenworth, Freightliner, Mack Trucks, and others, will be protected from the onslaught of outside interruptions,” he wrote. “We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!”
Mr. Trump says tariffs are a great way to protect American industries, generate revenue and gain leverage over foreign nations.
Critics say importers, not other nations, pay the tariffs and will ultimately pass at least some of the cost on to consumers.
A series of import-reliant businesses sued Mr. Trump over separate, nation-by-nation tariffs, saying he overstepped his powers by invoking a 1977 law that governs economic emergencies.
