US EditionStocks Rising After Trump Announces New Tariffs on Furniture, Drugs, Trucks and Cabinets
Tariffs include 100% on pharmaceuticals and 25% on heavy trucks to boost U.S. manufacturing and reduce the budget deficit, despite risks of higher consumer prices, officials said.
- On Thursday, President Donald Trump announced sweeping import tariffs taking effect October 1, 2025, including 100% on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks.
- Under the Trade Expansion Act of 1962, the administration launched Section 232 reviews to assess national-security risks from drug and truck imports, while Trump said tariffs exclude U.S. manufacturing firms building plants.
- Data show the Consumer Price Index has risen 2.9% over 12 months, manufacturers lost 42,000 jobs, builders cut 8,000, and the U.S. imported nearly $233 billion in pharmaceuticals last year.
- Economists warn the new tariffs could raise prices and dampen hiring, while Trump acknowledged past harm to American farmers and pledged to direct tariff revenues to support them.
- Federal courts previously ruled some tariffs exceeded authority, the Supreme Court will hear the case in November, while Federal Reserve Chair Jerome Powell warns tariff-driven goods prices fuel inflation this year, adding uncertainty to the U.S. economy amid expanded Section 232 reviews.
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The industries hit hardest by Donald Trump's sweeping tariffs
Since returning to the White House, the US president has placed tariffs on more than 90 countries and a number of industries. Here are the countries and sectors most impacted by the tariffs from the Trump administration.
Here’s how Trump’s new pharmaceutical, furniture tariffs could hit Americans
President Trump has unveiled steep new tariffs on pharmaceutical drugs, furniture, kitchen cabinets, bathroom vanities and heavy trucks – threatening to raise prices as Americans are already dealing with high costs of living.
Trump places Oct. 1 tariffs on trucks, furniture, and pharmaceuticals
President Donald Trump announced another round of wide-ranging tariffs on Thursday, sparking questions about their implications for consumers and businesses. In a series of messages to Truth Social, Trump announced plans to impose a 25% tariff on all “heavy” trucks made outside the United States. A 50% tariff “on all Kitchen Cabinets, Bathroom Vanities, and associated products” and a 30% Tariff on upholstered furniture is also coming, the presi…
Trump finds new trade targets -- pharmaceuticals, kitchen cabinets and heavy trucks
WASHINGTON (AP) — Naturepedic, a mattress and furniture company based outside Cleveland, has been planning to introduce an upscale upholstered headboard late this year or early in 2026.But President Donald Trump has thrown those plans into disarray. On Thursday night, the president announced on social media that he was slapping a 30% tax on imported upholstered furniture. Naturepedic ships its headboards in from India and Vietnam.So what is the …
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