On Thursday, President Donald Trump announced a new wave of tariffs on imported branded drugs, unless a firm is building a manufacturing plant in the US.
Washington will also impose a 25% tariff on imports of all heavy-duty trucks and 50% levies on kitchen and bathroom cabinets, he said as he announced a slew of industry-focused duties on his Truth Social platform.
“The reason for this is the large-scale ‘FLOODING’ of these products into the United States by other outside countries,” Trump wrote, citing the need to protect American manufacturers from foreign imports.
Also Read: Donald Trump: European Leaders to Visit US Over Ukraine War
The announcements come despite calls from US businesses for the White House to not impose further tariffs.
Trump said the tariffs on heavy trucks were to protect US manufacturers from “unfair outside competition” and that the duties would help lift American companies such as Peterbilt and Mack Trucks.
These firms “will be protected from the onslaught of outside interruptions,” he wrote.
The new levies on kitchen and bathroom cabinets, as well as some other furniture, were in response to high levels of imports, which hurt local manufacturers, the president said.
He added that the US would start charging a 30% tariff on upholstered furniture from next week.
The new duties come as part of an expansion of Trump’s tariff policies, which have targeted both global trading partners and specific industries.
Trump’s sweeping new tariffs on more than 90 countries came into effect in early August as part of his policies aimed at boosting jobs and manufacturing in the US, among other political goals.
written by @enock katamba
- Mr. katamba Enock: Professional designer with experience in web designing who started this activity in 2022 at Kyambogo University . Contact me on : (+256-758287080)
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