Overview

• President Trump announced on Sept. 25 that the new tariffs will take effect Oct. 1, outlining the plan in posts on his social-media account.
• The pharmaceutical measure targets brand-name and patent-protected medicines and exempts firms building U.S. drug plants, with generics reported as potentially outside the scope.
• Additional duties set for Oct. 1 include 25% on large trucks, 50% on kitchen shelves and vanities, and 30% on upholstered furniture, which Trump framed as protecting domestic manufacturers.
• A U.S. official indicated Japan and the EU would be subject to a 15% ceiling on drug tariffs under existing arrangements, with final terms dependent on forthcoming U.S. documents.
• Japanese industry and health ministers said they are reviewing the implications, and coverage notes the 100% pharmaceutical rate would be the highest in the current tariff campaign and could weigh on firms with production in China and India.