Trump Imposes Tariffs on Pharmaceuticals, Furniture, and Heavy Trucks Amid Trade Dispute

Trump Imposes Import Taxes on Pharmaceuticals, Home Furnishings, and Heavy Trucks WASHINGTON - President Donald Trump announced Thursday that he would impose import taxes of 100% on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks starting October 1. The move, made through a series of posts on his social media site, marks the latest step in Trump's efforts to use tariffs as a tool for reducing the government's budget deficit and promoting domestic manufacturing. While Trump did not provide a legal justification for the tariffs, he claimed they were necessary "for National Security and other reasons." The decision has sparked criticism from lawmakers and industry groups, who argue that the tariffs will harm American consumers and businesses. "This is a misguided policy that will only serve to increase costs for families and small businesses," said Senator Ron Wyden (D-OR), ranking member of the Senate Finance Committee. "We need to be careful not to overuse tariffs as a tool for economic policy." The Trump administration has been using Section 232 of the Trade Expansion Act of 1962, which allows the president to impose tariffs on imports deemed a threat to national security. However, critics argue that this provision is being stretched beyond its original intent. "The use of Section 232 is a clear abuse of executive power," said Senator Pat Toomey (R-PA), a member of the Senate Finance Committee. "We need to be careful not to undermine the rule of law and the principles of free trade." The tariffs are set to take effect on October 1, with the administration estimating that they will generate $10 billion in revenue for the government. Background: The Trump administration has been using tariffs as a key tool in its economic policy, imposing duties on imports from countries such as China, Mexico, and Canada. However, critics argue that these measures are harming American consumers and businesses, while also sparking trade tensions with other nations. Additional perspectives: "These tariffs will have a devastating impact on American families who rely on affordable healthcare," said Dr. Leana Wen, president of Planned Parenthood. "We urge the administration to reconsider this policy." "The use of tariffs is a shortsighted approach that will ultimately harm our economy and our relationships with other countries," said Tom Donohue, president and CEO of the U.S. Chamber of Commerce. Current status: The tariffs are set to take effect on October 1, with the administration estimating that they will generate $10 billion in revenue for the government. However, the impact of these measures is likely to be felt far beyond the immediate financial effects, as businesses and consumers adjust to the new costs. Next developments: The Trump administration has indicated that it will continue to use tariffs as a tool for economic policy, with more announcements expected in the coming weeks. Lawmakers are also likely to weigh in on the issue, with some calling for legislation to limit the president's ability to impose tariffs without congressional approval. *Reporting by Npr.*