Taking a major decision, US President Donald Trump has announced a huge import duty on foreign pharmaceutical medicines, kitchen cabinet, furniture and heavy trucks from 1 October. He told on his social media platform that the aim of this step is to promote domestic manufacturing and ensure national security.
Trump said that 100% tax on pharmaceutical drugs, 50% tax on kitchen cabinet and bathroom vanities, 30% tax on upholsted furniture and 25% on heavy trucks will be taxed.
Trump said in the social media post- ‘From October 1, 2025, we will apply 100% tariffs on any branded or patented drug product. Taxes on companies will be forgiven only if they are building a manufacturing plant in America. In the event of “breaking ground” or “under construction”, those companies will be exempted from tax.
Also read: Uproar over H-1B visa after tariff! This big minister in America … meeting has been going on for 3 days
Trump’s social media post
In another social media post, he said- ‘We will impose 50% tariffs on all kitchen cabinet, bathroom vanity and related products from October 1, 2025. Apart from this, we will impose 30% tariffs on upholstered furniture. The reason for this is the mass “flood” of these products in the US by other outside countries. This is a very inappropriate behavior, but we should protect our manufacturing process due to national security and other reasons.
Annitting to impose 25% import duty on heavy trucks, he said, ‘To protect our big heavy truck manufacturers from unnecessary competition, I have been putting 25% tariff on all heavy (big) trucks “manufactured in other parts of the world since October 1, 2025. Thus, our big truck company manufacture Will be safe. We need to make our truck drivers financially healthy and strong.
Also read: Trump tariff fails in front of GST cut, voice came together from abroad- Indian economy will run at this pace
Inflation will increase in America
He alleged that foreign companies are supplying furniture and cabinet floods in the US market, affecting the domestic industry. Similarly, foreign heavy trucks and its parts remain a challenge for American manufacturers.
Trump says that this step is not only necessary for the safety of the domestic industry but is also related to national security. This step has been taken at a time when inflation has already increased in the US. Experts believe that these additional charges can increase inflation further and slow the pace of economic growth.
—- End —-