WASHINGTON >> President Donald Trump on Thursday announced a slew of punishing tariffs on pharmaceuticals, heavy trucks, kitchen cabinets, bathroom vanities and upholstered furniture, saying import taxes on those products would go into effect Oct. 1.
The tariffs range from 25% to 100%, with the highest levies applying to “any branded or patented” pharmaceutical product coming into the United States. That decision poses considerable political risk, given that Americans could face higher prices for drugs, as countries pull back from exporting them into the United States.
Trump said exceptions would be made for pharmaceutical companies that are building manufacturing facilities in the United States and have already broken ground.
This year, as Trump has repeatedly threatened to impose tari