President Trump "Companies without plans to build U.S. factories, 100% tariff on pharmaceuticals"

Source
Korea Economic Daily

Summary

  • President Trump said he will impose a 100% tariff from October 1 on foreign-made pharmaceuticals without plans to build a factory in the United States.
  • He also said kitchen and bathroom goods and furniture will face up to 50%, and large trucks will face 25% tariffs.
  • He said these measures are aimed at protecting manufacturing and strengthening national security.

"100% on pharmaceuticals, 25% on large trucks"

50% imposed on kitchen cabinets and bathroom sinks

U.S. President Donald Trump said he will impose a 100% tariff on foreign-made pharmaceuticals from October 1. He also announced that he will impose tariffs of 25~50% on kitchen and bathroom goods and furniture, and on large trucks.

On the 25th (local time), President Trump said on the social media platform Truth Social regarding pharmaceuticals, "From October 1 this year, I will impose a 100% tariff on all branded and patent-registered pharmaceutical products unless a pharmaceutical production plant is being constructed in the United States," and said, "(If construction of a plant) if construction has already started, these pharmaceutical products will not be subject to the tariff."

Earlier he said that foreign-made trucks will be subject to a 25% tariff from the same day, emphasizing "to protect our great large-truck manufacturers from unfair external competition." He added, "Our great large-truck manufacturers — Peterbilt, Kenworth, Freightliner, Mack Trucks, and other companies — will be protected from the onslaught of external interference."

The imposition of these large-truck tariffs is seen as being implemented based on Section 232 of the Trade Expansion Act, which grants the president authority to restrict imports through measures such as tariffs if imports of certain items are deemed to threaten national security. Earlier, the U.S. Department of Commerce said on April 23 that it was investigating the import volumes and situation of medium and large trucks and parts under that provision.

President Trump also said, "From October 1, 2025, I will impose a 50% tariff on all kitchen cabinets, bathroom sinks, and related products," and "I will impose a 30% tariff on all furniture (such as sofas)." He argued, "This is because of the unfair practice of these products 'flooding(flooding)' from abroad on a large scale, and we must protect our manufacturing for national security and other reasons."

Reporter Kim Dong-hyun 3code@hankyung.com

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Korea Economic Daily

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