Chicago – September 26, 2025
President Donald Trump announced on September 25 a fresh package of import tariffs, set to take effect October 1. Under the plan, 100% tariffs will hit branded pharmaceutical drugs unless companies are already building U.S. manufacturing plants.
Heavy-duty trucks will face a 25% tariff, while kitchen cabinets and bathroom vanities will be taxed at 50%, and upholstered furniture at 30%.
Trump justified the move by accusing foreign exporters of “flooding” the U.S. market, citing national security and economic reasons. Critics, however, warn the tariffs could drive inflation higher and disrupt global supply chains.
Markets in Asia reacted sharply, with pharmaceutical and furniture stocks falling after the announcements.
