Trump Administration implements a host of new tariffs

Tariffs on Various Products - President Trump announced a 100% tariff on brand name or patented pharmaceutical products starting October 1st, unless manufacturers establish a plant in the US [1] - A 50% tariff will be imposed on kitchen cabinets, bathroom vanities, and related products, along with a 30% tariff on upholstered furniture, effective next week [2] - Additionally, a 25% tariff on imported heavy trucks is being introduced, framed as a national security measure to support American truckers [2] Impact on Costs and Prices - Critics argue that these tariffs could increase costs for businesses and consumers, with previous tariffs on steel, aluminum, and copper already raising expenses for US truck manufacturers [3] - Furniture prices have also seen significant increases due to earlier tariffs, with living and dining room pieces rising nearly 10% over the past year according to the Bureau of Labor Statistics [3][4]