President Trump announced new tariff plans on Truth Social, including 100% on branded and patented pharmaceuticals, 25% on heavy trucks, 50% on kitchen and bathroom cabinetry, and 30% on upholstered furniture. These proposals follow earlier Commerce Department investigations into pharmaceuticals and trucking, as well as a separate probe into furniture imports. Trump cited national security as justification for the truck and furniture tariffs.
The president has threatened tariffs on pharmaceutical imports several times since returning to the White House, saying in August that they could reach as high as 250%. At the time, he said he would begin with “a small tariff” before ratcheting up the rate over the next year and a half. It remains unclear if that is the planned cadence of the administration.
PSA BDP will continue to share additional updates as they become available.
