.S. President Donald Trump speaks in the Oval Office of the White House on Sept. 25, 2025 in Washington, DC. (Photo by Andrew Harnik/Getty Images)
WASHINGTON - President Donald Trump on Thursday said he would be implementing import taxes on several commodities, including pharmaceutical drugs, kitchen cabinets, vanities and more.
Trump has long maintained that tariffs are the key to forcing companies to invest more in domestic factories. He has dismissed fears that importers would simply pass along much of the cost of the taxes to consumers and businesses in the form of higher prices.
More tariffs
By the numbers:
Import taxes will be placed on the following items:
- Pharmaceutical drugs: 100%
- Kitchen cabinets: 50%
- Bathroom vanities: 50%
- Upholstered furniture: 30%
- Heavy trucks: 25%
What's next:
The tariffs will begin on Oct. 1.
Why you should care:
These new taxes on imports could pass through to consumers in the form of higher prices and dampen hiring, a process that economic data suggests is already underway.
Dig deeper:
In 2024, America imported nearly $233 billion in pharmaceutical and medicinal products, according to the Census Bureau.
The prospect of prices doubling for some medicines could send shock waves to voters as health care expenses, as well as the costs of Medicare and Medicaid, potentially increase.
The new tariffs on cabinetry could further increase the costs for homebuilders at a time when many people seeking to buy a house feel priced out by the mix of housing shortages and high mortgage rates. The National Association of Realtors on Thursday said there were signs of price pressures easing as sales listings increased 11.7% in August from a year ago, but still the median price for an existing home was $422,600.
Trump said that foreign-made heavy trucks and parts are hurting domestic producers that need to be defended.
"Large Truck Company Manufacturers, such as Peterbilt, Kenworth, Freightliner, Mack Trucks, and others, will be protected from the onslaught of outside interruptions," Trump posted.
The Source: Information for this article was taken from The Associated Press.