Tipsheet

Trump Announces Slew of New Tariffs

President Donald Trump announced a slew of new tariffs Thursday evening on trucks, furniture, and pharmaceuticals that are set to take effect next month.

As of Oct. 1, Trump said there would be a 25 percent tariff on all heavy trucks made outside the U.S., framing the move as a national security issue and one that would “protect our Great Heavy Truck Manufacturers from unfair outside competition.”

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

He also announced a 50 percent tariff on “Kitchen Cabinets, Bathroom Vanities, and associated products,” beginning Oct. 1, as well as a 30 percent tariff on upholstered furniture. 

“The reason for this is the large scale ‘FLOODING’ of these products into the United States by other outside Countries,” Trump explained. “It is a very unfair practice, but we must protect, for National Security and other reasons, our Manufacturing process.” 

Finally, he announced a 100 percent tariff on “any branded or patented Pharmaceutical Product,” with exemptions for companies building plants in the U.S., which he defined as “'breaking ground' and/or 'under construction.'” 

The tariffs will be issued under a provision of a national security law, known as Section 232, that Mr. Trump has used to issue tariffs on steel, aluminum, cars and copper. On Wednesday, the Trump administration announced that it was beginning new investigations under the law into imports of robotics, industrial machinery and medical devices, which could result in tariffs. (NYT)

The tariffs announced Thursday are distinct from those levied on countries under the International Emergency Economic Powers Act, which are facing a legal challenge. That case is set to come before the Supreme Court later this year.