Trump imposes 30% tax on furniture, 100% on branded pharmaceuticals

On September 25, US President Donald Trump announced that the US will impose a 100% tax on imported branded pharmaceuticals, 25% on heavy trucks, 50% on kitchen cabinets and 30% on some types of furniture.

President Donald Trump speaks in the Oval Office on September 25 - Photo: REUTERS

The US leader said a 100% tariff would apply to all imported branded or patented pharmaceutical products, unless they come from a company that has started building a manufacturing plant in the US, according to Reuters news agency.

“Starting October 1, 2025, we will impose a 100% tax on any brand-name or patented pharmaceutical product unless a company is BUILDING a pharmaceutical plant in the USA,” President Trump wrote on the social network Truth Social on the evening of September 25 local time, but did not reveal whether US-based multinational corporations would be exempt.

Trump also announced that he would begin imposing a 50% tariff on bathroom counters and a 30% tariff on certain types of furniture. All of these new tariffs will take effect on October 1.

In Mr. Trump's view, the new tariffs on heavy trucks are intended to protect manufacturers from unfair competition from abroad, as well as benefit American truck companies.

Meanwhile, the reason his administration imposed tariffs on kitchen cabinets, bathroom shelves and some furniture items was because the volume of imports was too large, causing damage to domestic manufacturers.

Additional tariffs on key imports, including semiconductors and critical minerals, are expected to be announced in the coming weeks.

The Trump administration has previously launched investigations into imports of robots, industrial machinery and medical equipment, items that are believed to have a profound impact on US manufacturing.

Following Mr. Trump's decision, the Pharmaceutical Research and Manufacturers of America voiced its opposition, saying that 53% of the total $85.6 billion in pharmaceutical ingredients would be produced in the US by early 2025, with the rest coming from Europe and other allies, according to Bloomberg News.

In addition, the US Chamber of Commerce also called on the Department of Commerce not to impose tariffs on trucks, because the top five import sources including Mexico, Canada, Japan, Germany and Finland are all close allies or partners of the US, not threatening national security.

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Source: https://tuoitre.vn/ong-trump-ap-thue-30-voi-do-noi-that-100-voi-duoc-pham-co-thuong-hieu-20250926082832125.htm