Trump announces 100% tariff on drugs.

Trump announces 100% tariff on drugs, puts India pharma exports at risk.
US President Donald Trump on Thursday unveiled another round of sweeping import taxes, declaring he will slap tariffs of up to 100 per cent on goods ranging from pharmaceutical drugs to kitchen cabinets.
I’m putting a 100 per cent import tax on pharmaceutical drugs unless the companies are building plants right here in the United States,” Trump said on Truth Social. “Breaking ground, under construction, that’s the deal. No exceptions.”

Trump’s most recent round of tariffs, which will go into effect on October 1, includes a 25% tax on heavy vehicles, a 30% tax on upholstered furniture, and a 50% tax on bathroom vanities and kitchen cabinets.
He said that US companies were being undercut by foreign producers. “The United States is overrun with furniture and cabinetry. Our own producers are being harmed by heavy vehicles and parts. Trump stated that tariffs are necessary for a number of reasons, including national security.

Only a few weeks have passed since the White House unveiled prior import fees and trade frameworks. The Associated Press reports that Trump is still certain that tariffs can increase American manufacturing and reduce the government deficit.

But critics warn the strategy risks worsening inflation and stifling growth as businesses already adjusting to earlier tariffs face fresh costs and uncertainty.

The president dismissed those concerns. “We’re protecting American jobs, we’re protecting American factories,” he said. “It’s very simple. If you want to sell here, you build here.”