Overview

• The policy imposes a 100% duty on branded or patented pharmaceutical imports effective Oct. 1, with an exemption for companies that have already begun U.S. plant construction as defined by breaking ground.
• Additional tariffs include 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks built outside the United States.
• The administration has not released the Section 232 report or implementing rules, leaving the scope, enforcement mechanics and the status of partners such as the EU, UK, Japan and Mexico unclear.
• Industry groups warn of higher costs and supply disruptions, while analysts say near‑term effects may be limited by existing U.S. capacity, inventories and new investments such as Eli Lilly’s plants in Texas and Virginia.
• Markets showed volatility after the announcement, and economists including the Federal Reserve chair cautioned the tariffs could add to inflation and restrain growth.