Overview

• Tariffs start Oct. 1, with a 100% duty on brand or patented pharmaceuticals unless companies build manufacturing plants in the United States.
• The package adds a 25% tariff on heavy trucks and duties of 50% on kitchen and bathroom furniture and 30% on upholstered items, with the truck move justified on national security grounds.
• European drugmakers’ group Efpia warns the measures would raise costs, disrupt supply chains and hinder patient access to vital treatments.
• The European Commission says its August agreement with Washington caps duties on EU pharmaceuticals at 15%, while the scope of targeted medicines remains unresolved.
• Markets slid for exposed firms as Volvo and Daimler shares fell and U.S. retailers Wayfair and Williams Sonoma declined, and analysts expect generics such as those from India to be spared, with inflation risks flagged.