Trump tariffs drugs, furniture, heavy trucks to ‘protect’ U.S. markets

Spread the love

President Donald Trump announced a fresh wave of tariffs Thursday on imported pharmaceutical drugs, some building supplies and heavy trucks that he said is to protect American markets.

Trump wants to use tariffs to push drug makers to boost U.S. production and strengthen U.S. supply chains. Trump has also said tariffs could help lower drug costs.

Trump made the announcements late Thursday in a series of Truth Social posts.

The president said a 100% tariff on imported patented drugs will start Oct. 1, with exceptions for companies building manufacturing plants in the U.S.

“There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started,” he wrote.

Trump didn’t mention generic drugs, which account for about 90% prescriptions in the U.S.

Alex Schriver, senior vice president of the Pharmaceutical Research and Manufacturers of America, said money spent on tariffs can’t be spent on cures.

“Most innovative medicines prescribed in America are already made in America. PhRMA companies continue to announce hundreds of billions in new U.S. investments thanks to President Trump’s pro-growth tax and regulatory policies,” he said in a statement. “Tariffs risk those plans because every dollar spent on tariffs is a dollar that cannot be invested in American manufacturing or the development of future treatments and cures.”

Schriver said it could raise costs for consumers.

“Medicines have historically been exempt from tariffs because they raise costs and could lead to shortages,” he said.

Trump also hit imported kitchen cabinets, bathroom vanities and “associated products” with a 50% tariff. Imported upholstered furniture is set for a 30% levy. That is also set to start Oct. 1.

“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.”

He also set a 25% import charge on heavy trucks to protect U.S. companies.

“Our Great Large Truck Company Manufacturers, such as Peterbilt, Kenworth, Freightliner, Mack Trucks, and others, will be protected from the onslaught of outside interruptions,” Trump wrote. “We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!”

Trump has made tariffs the centerpiece of his economic agenda at home and abroad. Trump used a 1977 law that doesn’t mention tariffs to reorder global trade in a matter of months through tariffs to try to give U.S. businesses an advantage in the world market. Using tariffs under the International Emergency Economic Powers Act, Trump put import duties of at least 10% on every nation that does business with the U.S.

A case challenging Trump’s tariff authority is pending before the U.S. Supreme Court.

Trump didn’t immediately cite authority for the latest round of tariffs, which may use other federal statutes that haven’t yet been challenged.

Trump has said he wants to use tariffs to restore manufacturing jobs lost to lower-wage countries in decades past, shift the tax burden away from U.S. families, and pay down the national debt.

A tariff is a tax on imported goods that the importer pays, not the producer. The importer pays the cost of the duties directly to U.S. Customs and Border Protection, a federal agency.

Leave a Comment





Latest News Stories

Federal shutdown sidelines 34,000 workers in Colorado

Federal shutdown sidelines 34,000 workers in Colorado

By Elyse ApelThe Center Square As the federal government enters its fourth week of a shutdown, an estimated 34,000 Coloradans are currently on furlough from their federal jobs. That's according...
Poll: Majority of Americans favor voter ID requirement, split on mail-in voting ban

Poll: Majority of Americans favor voter ID requirement, split on mail-in voting ban

By Thérèse BoudreauxThe Center Square President Donald Trump’s plans to “restore election integrity” and prevent voter fraud include banning mail-in voting and requiring that voters present identification at the polls....
Op-Ed: Illinois becoming the lawsuit capital of America, and Springfield to blame

Op-Ed: Illinois becoming the lawsuit capital of America, and Springfield to blame

By Michelle SmithThe Center Square As someone who has spent decades building and rebuilding businesses in Illinois, I’ve grown accustomed to challenges that come with the territory: tight deadlines, rising...
Illinois treasurer promises to pass nonprofit legislation vetoed by Pritzker

Illinois treasurer promises to pass nonprofit legislation vetoed by Pritzker

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – Illinois State Treasurer Michael Frerichs says he will keep pushing nonprofit investment legislation that was vetoed by...

WATCH: Trump says he could attack drug cartels on land amid boat strikes

By Brett RowlandThe Center Square President Donald Trump said the U.S. military could soon go after drug smuggling on land and would consider taking the matter to Congress, but said...
SpaceX launches record-breaking Falcon 9 flight

SpaceX launches record-breaking Falcon 9 flight

By Dave MasonThe Center Square SpaceX broke its record Wednesday morning for its number of Falcon 9 launches in a single year. This year’s 133rd Falcon launch took off, with...
Tribal nations ask U.S. Supreme Court to return lawsuit to state court

Tribal nations ask U.S. Supreme Court to return lawsuit to state court

By Elyse ApelThe Center Square Ten Native American tribal nations are urging the U.S. Supreme Court to send a legal challenge to the Great Lakes Tunnel Project back to the...
Hochul blames congressional Republicans for delay in fuel assistance funding

Hochul blames congressional Republicans for delay in fuel assistance funding

By Chris WadeThe Center Square New York Gov. Kathy Hochul wants Congress to release federal funding to support New York’s Home Energy Assistance Program, which has been delayed by the...
Consumer protection organization warns of partnership between two 'woke' tech companies

Consumer protection organization warns of partnership between two ‘woke’ tech companies

By Tate MillerThe Center Square Consumers’ Research’s new Woke Alert warns of how a partnership between "woke" tech companies Anthropic and Salesforce could make it easier to push left-wing ideologies...
Illinois House backs controversial ‘Equality for Every Family’ bill after Pritzker changes

Illinois House backs controversial ‘Equality for Every Family’ bill after Pritzker changes

By Catrina Barker | The Center Square contributorThe Center Square (The Center Square) – The Illinois House concurs with Gov. J.B. Pritzker’s amendatory veto to the Equality for Every Family...
WATCH: Trump admin asks SCOTUS to lift Guard restraints; Pritzker opposes ‘head tax’

WATCH: Trump admin asks SCOTUS to lift Guard restraints; Pritzker opposes ‘head tax’

By Greg Bishop | The Center SquareThe Center Square (The Center Square) – In today's edition of Illinois in Focus Daily, The Center Square Editor Greg Bishop reviews the latest...
Poll: Voters trust local governments more than feds to address crime, other issues

Poll: Voters trust local governments more than feds to address crime, other issues

By Andrew Rice | The Center SquareThe Center Square (The Center Square) – A majority of Americans say the federal government should not decide policing and crime policy in their...
Illinois quick hits: Secretary of State accuses ICE of plate swapping; Treasurer celebrates LGBTQ+

Illinois quick hits: Secretary of State accuses ICE of plate swapping; Treasurer celebrates LGBTQ+

By Jim Talamonti | The Center SquareThe Center Square Secretary of State accuses ICE of plate swapping Illinois Secretary of State Alexi Giannoulias says his office is investigating U.S. Customs...
Wyatt Erickson wears a special jersey honoring Vicki Yates during Friday night's "Pink-Out" game.

Beyond the Gridiron: Warriors Celebrate Seniors and Rally for Pink-Out Night

Featured image caption: Wyatt Erickson wears a special jersey honoring Vicki Yates during Friday night's "Pink-Out" game. Before the first whistle blew in Friday night’s football game, the lights at...
Fusion nuclear energy one step closer under California law

Fusion nuclear energy one step closer under California law

By Madeline ShannonThe Center Square A nuclear fusion bill signed into law this month in California would advance efforts to develop a safer, less radioactive energy source that could power...