US President Donald Trump on Thursday unveiled a fresh round of punishing tariffs on a broad range of imported goods, including 100% duties on branded drugs and 25% tariffs on heavy-duty trucks, set to come into force next week.
Tariffs have been a feature of Trump's second term, with sweeping duties on trading partners ranging from 10% to 50% and other targeted levies on a wide variety of products, casting a shadow over the global economic outlook and paralyzing business decision-making.
The announcements, made on Truth Social, did not include details about whether the new levies would apply on top of national tariffs or whether economies with trade deals such as the European Union and Japan would be exempted.
Trump also said he would start charging a 50% tariff on kitchen cabinets and bathroom vanities and a 30% tariff on upholstered furniture, with all the new duties to take effect from October 1.
Here's a list of tariffs announced today:
Tariffs have been a feature of Trump's second term, with sweeping duties on trading partners ranging from 10% to 50% and other targeted levies on a wide variety of products, casting a shadow over the global economic outlook and paralyzing business decision-making.
The announcements, made on Truth Social, did not include details about whether the new levies would apply on top of national tariffs or whether economies with trade deals such as the European Union and Japan would be exempted.
Trump also said he would start charging a 50% tariff on kitchen cabinets and bathroom vanities and a 30% tariff on upholstered furniture, with all the new duties to take effect from October 1.
Here's a list of tariffs announced today:
- 100% tariff on branded pharmaceutical products
- 50% tariff on kitchen cabinets and bathroom vanities
- 30% tariff on upholstered furniture
- 25% tariff on heavy trucks
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