Overview

• President Trump announced product‑specific tariffs effective Oct. 1, including a 100% levy on branded or patented pharmaceuticals unless the manufacturer is building a U.S. facility.
• The exemption requires projects to have broken ground or be under construction, a compliance test that follows a wave of announced drug‑industry investments in U.S. plants.
• Additional measures include a 25% tariff on heavy trucks made outside the United States, a 50% tariff on kitchen cabinets and bathroom vanities, and a 30% tariff on upholstered furniture.
• The White House frames the actions as national‑security protections backed by Section 232 probes, while PhRMA and the U.S. Chamber caution that the duties risk higher costs and supply strain.
• Economists and Federal Reserve officials warn of inflation pressures already showing up in data, and the Supreme Court is expected to review the administration’s emergency tariff authority next month.