Overview

• Trump said a 100% tariff on branded or patented pharmaceuticals starts Oct. 1 unless the manufacturer is building a U.S. plant, defined as construction started or under way.
• The White House signaled the EU and Japan will be charged up to 15% under existing agreements, while the U.K. lacks a set cap and could face the full rate pending talks.
• A 25% tariff on imported heavy trucks, a 50% tariff on kitchen and bath cabinets, and a 30% tariff on upholstered furniture were also announced on national security grounds.
• No formal decree has been published as of Sept. 26, leaving scope, enforcement and exemption mechanics unresolved despite the stated start date.
• Industry groups and allies voiced concerns, with Europe’s EFPIA warning of supply disruptions, Australia’s health minister criticizing cost impacts, and London pressing Washington for relief.