- Trump announced new tariffs on pharmaceuticals, trucks, and some furniture starting October 1.
- The tariffs aim to counteract what Trump calls a “very unfair practice.”
- It is unclear whether these tariffs are enacted under emergency IEEPA powers or Section 232.
President Donald Trump’s tariff campaign is far from over.
On Thursday evening, Trump announced on Truth Social that a fresh flurry of tariffs would start on October 1.
According to Trump’s post, the US will impose 100% duties on imported branded or patented pharmaceuticals, 25% tariffs on heavy-duty trucks, and 50% tariffs on kitchen cabinets.
“The reason for this is the large-scale ‘flooding’ of these products into the United States by other outside Countries,” Trump wrote. “It is a very unfair practice, but we must protect, for National Security and other reasons, our Manufacturing process.”
With regard to the tariffs on pharmaceuticals, Trump posed on Truth Social that the tariffs will be on companies that are not building plants in the US. “‘IS BUILDING’ will be defined as, ‘breaking ground’ and/or ‘under construction,'” he posted. “There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started. Thank you for your attention to this matter!”
It is unclear whether these tariffs will be imposed under emergency powers or if the White House has completed Section 232 investigations to implement tariffs on the grounds of national security.
Trump’s objective to raise tariffs seems unaffected by the increased inflation in August and the lawsuits against his existing tariffs. According to data released by the Bureau of Labor Statistics in August, the price of the “food at home” category saw theĀ largest monthly increase since August 2022. The consumer price index, which measures average prices excluding food and energy, also rose 3.1% in the same month.
The White House did not immediately respond to a request for comment.
