Overview

• President Trump said branded or patented pharmaceutical imports will face a 100% tariff from October 1 unless the manufacturer is building a U.S. plant, defined as breaking ground or under construction.
• New product tariffs also start October 1: 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks made outside the United States.
• Analysts say major drugmakers with U.S. projects underway may be largely exempt, but smaller firms could be exposed and patients and public programs could face higher costs.
• Export-reliant suppliers and markets reacted quickly, with coverage highlighting potential hits to India and Australia and declines across Asian pharma shares.
• The announcement arrives without a detailed legal rationale as courts review the administration’s use of emergency tariff powers and the Supreme Court prepares to take up related questions.