Trump announces a flurry of tariffs on pharmaceuticals, trucks, and furniture

Group 1 - President Trump announced new tariffs set to begin on October 1, including 100% duties on imported branded or patented pharmaceuticals, 25% tariffs on heavy-duty trucks, and 50% tariffs on kitchen cabinets [1] - The rationale behind these tariffs is to combat the "flooding" of these products into the U.S. from other countries, which is deemed an unfair practice that threatens national security and domestic manufacturing [2] - The decision to raise tariffs appears unaffected by rising inflation rates, with the consumer price index increasing by 3.1% in August, and significant price hikes in the "food at home" category [3]