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

Texas House passes Congressional redistricting bill after absconding Dems return

Texas House passes Congressional redistricting bill after absconding Dems return

By Bethany BlankleyThe Center Square After House Democrats absconded for more than two weeks in opposition to a Congressional redistricting bill, the Texas House on Wednesday passed the bill by...

Department of Education ends support for political activism

By Esther WickhamThe Center Square The U.S. Department of Education announced this week it is ending taxpayer-funded programs that supported political activism jobs on college campuses. The Department of Education...
Illinois trucker warns foreign firms faking logs, dodging rules, risking safety

Illinois trucker warns foreign firms faking logs, dodging rules, risking safety

By Catrina Barker | The Center Square contributorThe Center Square (The Center Square) – After a recent deadly crash in Florida and a crash in Illinois involving semi-trucks, an Illinois...
Illinois law mandates pharmacies to sell needles, sparking safety debate

Illinois law mandates pharmacies to sell needles, sparking safety debate

By Catrina Barker | The Center Square contributorThe Center Square (The Center Square) – The Illinois Governor has signed House Bill 2589, which requires pharmacists to sell sterile hypodermic needles...
Report warns U.S. national debt predicted to pass $53 trillion by 2035

Report warns U.S. national debt predicted to pass $53 trillion by 2035

By Thérèse BoudreauxThe Center Square By fiscal year 2035, the national debt is set to surpass $53 trillion, or 120% of the nation’s Gross Domestic Product, according to a new...
Courts remain firm against unsealing grand jury records from Epstein trial

Courts remain firm against unsealing grand jury records from Epstein trial

By Thérèse BoudreauxThe Center Square A second federal judge has denied the Trump administration’s request to unseal grand jury material from convicted sex offender Jeffrey Epstein’s 2019 trial. New York-based...
White House TikTok garners 1.3 million views in 24 hours

White House TikTok garners 1.3 million views in 24 hours

By Morgan SweeneyThe Center Square Within 24 hours of its debut, the first video posted to the new White House TikTok account has racked up more than 1.3 million views....
Newsom responds to Bondi's letter on sanctuary policies

Newsom responds to Bondi’s letter on sanctuary policies

By Jamie ParsonsThe Center Square Editor's note: This story has been updated since its initial publication to include additional comments from the U.S. Department of Justice. After California received a...
U.S., NATO military officials discuss Ukraine security guarantees

U.S., NATO military officials discuss Ukraine security guarantees

By Caroline BodaThe Center Square U.S. military leaders met with NATO defense chiefs on Wednesday to iron out details of security protections for Ukraine as part of a potential peace...
Illinois quick hits: Governor bans school fines; Target fires hundreds over fraud

Illinois quick hits: Governor bans school fines; Target fires hundreds over fraud

By Jim Talamonti | The Center SquareThe Center Square Governor bans school fines Gov. J.B. Pritzker has signed legislation that bans schools from issuing fines or citations to students for...
Industry advocates: More state regulation will drive insurance rates higher

Industry advocates: More state regulation will drive insurance rates higher

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – Insurance industry leaders are advising Illinois lawmakers that state regulation of rates will lead to higher costs...
Lawmakers, policy groups react to social media warning suit

Lawmakers, policy groups react to social media warning suit

By Elyse ApelThe Center Square Bill sponsors and public interest groups have been quick to respond to a lawsuit filed last week against Colorado, challenging a new law that would...
From Mexico to Knoxville, five cartel leaders wanted in drugs, weapons conspiracy

From Mexico to Knoxville, five cartel leaders wanted in drugs, weapons conspiracy

By Bethany BlankleyThe Center Square Despite many arguing the border crisis is over because illegal entries at the southwest border have dropped to their lowest level in recorded history, border-related...
Trump administration pushes to remove noncitizen Medicaid enrollees

Trump administration pushes to remove noncitizen Medicaid enrollees

By Andrew RiceThe Center Square The Trump administration is cracking down on noncitizens receiving Medicaid and Children’s Health Insurance Program benefits, according to the Centers for Medicare and Medicaid Services....
Casey Meeting Aug 18.2

“Candy Canes on Main” Gets Green Light for Parade, Donation

Editor's Note: Casey Local incorrectly reported that council members approved a Beer Garden. However, the Beer Garden was only discussed and was not approved for Candy Canes on Main. Article...