President Donald Trump on Thursday took aim at a broad range of imported goods in announcing a new round of punishing tariffs, saying the US will impose 100 per cent duties on imported branded pharmaceutical drugs, 25 per cent tariffs on heavy-duty trucks and 50 per cent tariffs on kitchen cabinets.<\/p>\n
Trump has launched numerous national security investigations into potential new tariffs on a wide variety of products during his second term, casting a shadow over the global economic outlook and paralysing business decision-making.<\/p>\n
Trump also said he would start charging a 50 per cent tariff on bathroom vanities and a 30 per cent tariff on upholstered furniture next week, with all the new duties to take effect from October 1.<\/p>\n
The new 100 per cent tariff on any branded or patented pharmaceutical product will apply to all imports unless the company has already broken ground on building a manufacturing plant in the United States, Trump said.<\/p>\n
He said the new heavy-duty truck tariffs were to protect manufacturers from \u201cunfair outside competition\u201d and said the move would benefit companies such as Paccar-owned Peterbilt and Kenworth and Daimler Truck-owned Freightliner.<\/p>\n
The new tariffs on kitchen, bathroom and some furniture were because of huge levels of imports that were hurting local manufacturers, Trump said.<\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump on Thursday took aim at a broad range of imported goods in announcing a new…\n","protected":false},"author":2,"featured_media":181956,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[23,103,107533,107531,1076,21836,107527,6797,3471,107530,107532,107529,26,3,107526,24622,4637,92908,21,19,22,20,25,24,107528],"class_list":["post-181955","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-states","tag-america","tag-canada","tag-chrysler-parent-stellantis","tag-daimler-truck-owned-freightliner","tag-europe","tag-finland","tag-freightliner","tag-germany","tag-japan","tag-japanese-automobile-manufacturers-association","tag-kenworth","tag-kitchen-cabinets","tag-mexico","tag-news","tag-paccar-owned-peterbilt","tag-pharmaceutical-drugs","tag-truth-social","tag-u-s-chamber-of-commerce","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa","tag-volvo-group"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/181955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=181955"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/181955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/181956"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=181955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=181955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=181955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}