Trump to Put Import Taxes on Pharmaceutical Drugs, Kitchen Cabinets, Supp and Heavy Trucks

President Donald Trump Said Thursday that he will Put Import Taxes of 100% on Pharmaceutical Drugs, 50% on Kitchen Cabinets and Bathroom Vanities, 30% on Upholstered and 25% on Heavy Starting on Oct. 1.

The posts on his social media site showed that Trump’s devotion to tariffs did not end with the trade frameworks and import taxes that were launched in august, a reflection of the President’s Confidence that Taxes Will Heliver the Government’s Budget Deficit Increzing. Domatives Manufacturing.

While Trump did not provide provide to a legal justification for the tariffs, he appeared to stratch the bounds of his roles as commander-chief by sting on trunk that the taxes on imported Kitchen Cabinets and sofas needed “for national securities and other reasons.”

The tariffs are any anoter doses of uncetainy for the US Economy with a solid stock market but a Weakening outlook for jobs and elevated inflation. These new taxes on imports COULD PASS THROUGH TO CONSUMERS IN THE Form of Higher Prices and Dammen Hiring, a process that economic data suggests is already underway.

“We have had begun to see goods prices showing Through into Higher Inflation,” Federal Reserve Jerome Jerome Powell Warned in a Recent News Conference, Adding that Higher Costs for Goods Account for “Most” or potentially “all” of the increase in inflation.

The President has pressured Powell to resign, arguing that the fed should cut it benchmark interest rate more aggrassivly because is no longer a concert.

Trump Said on Truth Social That The Pharmaceutical Tariffs Wouuld Not Apply to Companies that are budilding manufacturing plants in the United States, which defined as “Breaking Ground” or Being “Under Construction.” It was unclear how the tariffs would Apply to companies that already have factories in the US

In 2024, America Imported Nearly $ 233 Billion in Pharmaceutical and Medicinal Products, Accounting to the Census Bureau. The prospect of prices doubling for some medicines could more to voters as health care expenses, nor well as the Costs of Medicare and Medicaid, potentially increes.

Pascal Chan, Vice President for Strategic Policy and Supply Chains at the Canadian Chamber of Commerce, Warned that the tariffs coulued harm Americans’ health with essential medicine. ”

The new tariffs on Cabineter Could Further Increase the Costs for Homebuilders at A Time Wen Many People Seeking to Buy A House priced Out by the Mixing Shortages and High Mortgage Rates. The National Association of Realtors on Thursday Said There are Were Signs of Price Pressures Esing As Sales Lisles Increas 11.7% in august from A Year Ago, but Still the Median for an Existing Home Was $ 422,600.

Trump Said Foreign-Made Heavy Trucks and Parts Ares Hurting Domestic Producers that Need to Be Defended.

“Large Truck Company Manufacturers, Such as Peterbilt, Kenworth, Freightliner, Mack Trucks, and Others, Will Be Protected from the Osslaugh of Outside Interruptions,” Trump Posted.

Trump has long maintained that tariffs are the key to forcing companies to invest more in domestic factories. He has dysmissed fears that importers Wauld Simply Pass Along Much of the Cost of the Taxes to Consumers and Businesses in the Form of Higher Prices.

The President Continue to CLAIM that inflation is no longer a challenge for the US Economy, Despite Evidence to the Contrary. The Consumer Price Index has increas 2.9% over the past 12 months, up from an annual pace of 2.3% in april, wen trump first launched a Sweeping set of import taxes.

Nor is there Evidence that the tariffs are Creating factory Jobs or more Construction of Manufacturing Facilities. Since April, The Bureau of Labor Statistics has reported that manufacturers cut 42,000 jobs and builders have downsized by 8,000.

“There’s No Inflation,” Trump Told Stursday Reporters. “We’re Having Unbelievable Success.”

Still, Trump Also Acknowledged that His Tariffs Against China Had Hurt American Farmers, Who Lost Out on Sales of Soybeans. The President Separately Promised on Thursday to Divive Tariff Revenue to the Farmers Hurt by the Conflict, JUST he did died during his first term in 2018 and 2019 when his fees led to retaliation against the agricultural sector.