On Thursday, President Donald Trump announced a new wave of steep tariffs on a wide range of imported goods, including a 100% duty on branded pharmaceuticals and a 25% tariff on heavy-duty trucks, set to take effect next week.

Tariffs have been a feature of Trump’s second term, with sweeping duties on trading partners ranging from 10% to 50% and other targeted levies on a wide variety of products, casting a shadow over the global economic outlook and paralyzing business decision-making.

The announcements, made on Truth Social, did not include details about whether the new levies would apply on top of national tariffs or whether economies with trade deals such as the European Union and Japan would be exempted. Tokyo said it was still analyzing the potential impact of the new measures.

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