Trump announces new tariffs on drugs, trucks and kitchen cabinets
Summary
President Donald Trump announced new tariffs on several imported goods, including drugs, trucks, and kitchen cabinets. These tariffs aim to protect American manufacturers from foreign competition. The tariffs will apply to products from over 90 countries and took effect in early August.Key Facts
- Trump announced a 100% tariff on branded drugs made outside the US.
- There is a 25% tariff on heavy-duty truck imports.
- Kitchen and bathroom cabinets will have a 50% tariff.
- The tariffs aim to protect US manufacturers from foreign imports.
- US businesses had advised against further tariffs.
- The policy is part of efforts to boost US jobs and manufacturing.
- The tariffs affect products from over 90 countries.
- These tariffs went into effect in early August.
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