US President Donald Trump has reignited his global trade war with sweeping new tariffs targeting pharmaceuticals, heavy-duty trucks, home renovation fixtures, and furniture.
In a late-night announcement on Thursday via his Truth Social account, Trump declared that from October 1, 2025, the United States will impose a 100% tariff on all branded or patented pharmaceutical products unless companies establish their manufacturing plants in America.
He also revealed a 25% tariff on all imported heavy trucks, pledging support for domestic manufacturers like Peterbilt, Kenworth, Freightliner, and Mack Trucks. Trump claimed the move was essential for national security, citing a Section 232 investigation earlier this year that probed the impact of truck imports on US security interests.
Shares of global competitors such as Volvo (Sweden) and Daimler (Germany) tumbled in after-hours trading across European markets.
The former real estate mogul extended the tariff wave to the housing and furniture sector, announcing a 50% tariff on kitchen cabinets, bathroom vanities, and related products, as well as a 30% tariff on upholstered furniture.
According to the US International Trade Commission, imports—mainly from Asia—make up 60% of all furniture sold in the US, including 86% of wood furniture and 42% of upholstered furniture. Following the announcement, shares in major US furniture retailers Wayfair and Williams Sonoma plunged.
Analysts warn the tariff hikes could worsen inflation in the world’s largest economy, raising consumer prices while deepening tensions with global trade partners.
Trump has long pushed a protectionist agenda, using Section 232 of trade law to justify tariffs on imports deemed a threat to national security. His administration has already imposed broad tariffs on countries including Canada, Mexico, and China, citing issues ranging from trade imbalances to fentanyl trafficking and illegal immigration.
It remains unclear how the new tariffs, which take effect next week, will integrate with Trump’s existing blanket 10% baseline tariff and other country-specific trade penalties.
