Overview

• President Trump set a 100% duty on imported branded or patented pharmaceuticals effective Oct. 1, alongside tariffs of 25% on heavy trucks, 50% on kitchen and bathroom furniture, and 30% on upholstered furniture.
• The medicine levy includes an exemption for companies that build U.S. manufacturing plants, which applies only once construction has begun, and analysts say generics appear outside the scope though definitions are still unclear.
• The European Commission says its August deal with Washington limits duties on EU‑produced medicines to 15%, while Australia criticized the move and analysts flagged exposure for high‑value drug producers in places like Singapore.
• Industry group Efpia warned the measures would raise costs, disrupt supply chains, and threaten patient access, as companies including Novartis, Bayer, and GSK reviewed U.S. investment and compliance options.
• Markets swung after the announcement, with shares of Volvo and Daimler sliding on the truck tariff and U.S. retailers such as Wayfair and Williams‑Sonoma falling on higher furniture import costs.