Trump imposes tariffs on pharmaceuticals, vehicles, and furniture.

Starting October 1, President Trump announced the implementation of sector-specific tariffs, including a 100% tariff on patented pharmaceuticals, a 25% tariff on heavy trucks, a 50% tariff on kitchen cabinets and bathroom vanities, and a 30% tariff on upholstered furniture. Citing national security, these tariffs are part of ongoing investigations by the Commerce Department under Section 232, which evaluates the implications of imports on security. The administration has previously imposed tariffs on steel, aluminum, and other goods, with further investigations ongoing for various sectors.