United States President Donald Trump has reignited his global trade war with sweeping new tariffs targeting pharmaceuticals, trucks, home renovation materials, and furniture.
In an announcement late Thursday on his Truth Social platform, Trump said that starting October 1, his administration will impose a 100% tariff on branded and patented pharmaceutical products “unless a company is building their pharmaceutical manufacturing plant in America.”
The move is one of Trump’s harshest trade measures since his April decision to impose reciprocal tariffs on nearly every U.S. trading partner. It remains unclear whether the new tariffs will stack on top of existing national levies.
The European Commission quickly responded, insisting that a preliminary trade agreement between the EU and the U.S. capped pharmaceutical tariffs at 15%, calling the deal “an insurance policy that no higher tariffs will emerge.”
European pharmaceutical industry groups warned that such measures could harm patients in both regions and called for urgent talks.
In a separate post, Trump also announced a 25% tariff on all imported heavy trucks, citing national security concerns. Shares of European truck makers Volvo and Daimler fell sharply in after-hours trading following the announcement.
The president further imposed a 50% tariff on kitchen cabinets, bathroom vanities, and related products, and a 30% tariff on upholstered furniture — a move expected to hit imports from Asia, which account for most of the U.S. market supply.
Shares of U.S. furniture retailers Wayfair and Williams Sonoma dropped after the news, according to Reuters.
The new tariffs are likely to raise concerns about inflation in the U.S. economy as Trump continues to push protectionist measures aimed at reshoring manufacturing and reducing reliance on imports.
His administration has already imposed a baseline 10% tariff on all countries, with higher rates on Canada, Mexico, China, and others over security and trade imbalances.
