US President Donald Trump on Thursday unveiled another round of sweeping import taxes, declaring he will slap tariffs of up to 100 per cent on goods ranging from pharmaceutical drugs to kitchen cabinets.
“I’m putting a 100 per cent import tax on pharmaceutical drugs unless the companies are building plants right here in the United States,” Trump said on Truth Social. “Breaking ground, under construction, that’s the deal. No exceptions.”
Trump’s latest tariff blitz, set to take effect October 1, includes a 50 per cent tax on kitchen cabinets and bathroom vanities, 30 per cent on upholstered furniture, and 25 per cent on heavy trucks.
Foreign producers, he argued, were undercutting US companies. “Furniture and cabinetry are flooding the United States. Heavy trucks and parts are hurting our own producers. Tariffs are needed — for National Security and other reasons,” Trump said.
The measures come just weeks after the White House announced earlier trade frameworks and import taxes. According to the Associated Press, Trump remains convinced tariffs can help cut the federal deficit while boosting domestic manufacturing.
But critics warn the strategy risks worsening inflation and stifling growth as businesses already adjusting to earlier tariffs face fresh costs and uncertainty.
The president dismissed those concerns. “We’re protecting American jobs, we’re protecting American factories,” he said. “It’s very simple. If you want to sell here, you build here.”
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