President Donald Trump has taken aim at a broad range of imported goods in announcing a new round of punishing tariffs, saying the US will impose 100 per cent duties on imported pharmaceutical drugs, 25 per cent tariffs on heavy-duty trucks and 50 per cent tariffs on kitchen cabinets.

Trump has launched numerous national security probes into potential new tariffs on a wide variety of products during his second term, casting a shadow over the global economic outlook and paralysing business decision-making.

Trump also said he would start charging a 50 per cent tariff on bathroom vanities and a 30 per cent tariff on upholstered furniture next week, with all the new duties to take effect from October 1.

The new 100 per cent tariff on any branded or patented pharmaceutical product will apply

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