Overview

• Branded or patented pharmaceutical imports will face a 100% duty from Oct. 1 unless the manufacturer has already broken ground or is under construction on a U.S. plant, per Trump’s definition of "is building."
• New product-specific tariffs also begin Oct. 1: 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks made outside the U.S.
• Analysts warn the drug levy could effectively double prices for imported medicines and push up inflation, increasing Medicare and Medicaid costs if expenses are passed through.
• The announcement builds on this year’s tariff campaign and Section 232 probes, with a Supreme Court case next month set to test the president’s broader tariff authority.
• Markets showed strain as related shares fell, and exposure was highlighted for exporters such as Australia’s CSL, while industry experts cautioned that onshoring drug production will take years given globalized supply chains.