WASHINGTON —

President Donald Trump announced new tariffs on a wide range of products, including prescription drugs and home furnishings, which are set to take effect on Wednesday as inflation rises.

Pharmaceutical products will face a 100% import tax unless the company has begun a project to manufacture its products in the United States. Trump previously said he plans to eventually increase this rate to 250%. Advertisement

Other tariffs taking effect Wednesday include a 50% tax on kitchen and bathroom cabinets and vanities , a 30% tax on upholstered furniture , and a 25% tax on commercial big rig trucks .

Trump has long said companies will absorb these costs, but economists and businesses say they will pass along at least some of the increased prices to their customers.

This

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