United States President Donald Trump has unveiled a sweeping set of new tariffs targeting pharmaceuticals, heavy-duty trucks, home renovation fixtures, and furniture, in what analysts describe as the most aggressive trade policy move of his current term.
The announcement, made late Thursday on Trump’s Truth Social platform, marks a revival of the global trade war that rattled markets during his earlier tariff campaigns.
Beginning October 1, the U.S. will impose a 100 percent tariff on all branded or patented pharmaceutical products, unless the manufacturer is actively building a production facility in the United States.
“We will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,” Trump wrote.
The move has already drawn criticism from key allies. Australia, which exported an estimated $1.35 billion worth of pharmaceutical products to the U.S. in 2024, warned that the tariffs would hurt American consumers.
“The higher rates are not in the American consumers’ interest, particularly given the degree to which their exporters to Australia benefit from that free trade as well,” Australian Health Minister Mark Butler said Friday.
The European Union also pushed back, with officials citing a July 2025 trade agreement that they claim shields European pharmaceutical exports from tariffs above 15 percent.
The European Federation of Pharmaceutical Industries and Associations warned that such measures would “increase costs, disrupt supply chains and prevent patients from getting life-saving treatments”.
In addition to pharmaceuticals, Trump announced a 25 percent tariff on all heavy-duty trucks manufactured outside the U.S., citing national security concerns.
The measure is expected to benefit domestic producers such as Peterbilt, Kenworth, Freightliner, and Mack Trucks, while putting pressure on foreign competitors including Sweden’s Volvo and Germany’s Daimler, parent company of Freightliner and Western Star.
Shares in both Volvo and Daimler fell sharply in after-hours European trading following the announcement.
Trump also confirmed tariffs of 50 percent on imported kitchen cabinets and bathroom vanities, along with 30 percent on upholstered furniture, arguing that foreign manufacturers were “flooding” the U.S. market and undermining domestic industries.
The measures follow a Section 232 investigation launched earlier this year into the national security implications of truck imports. Section 232 of U.S. trade law grants the president broad authority to impose tariffs if imports are deemed a threat to national security.
Economists warn that the tariffs could drive up consumer prices and strain relations with allies, while supporters argue they will incentivize domestic manufacturing and reduce reliance on foreign supply chains.
