President Trump has unveiled steep new tariffs on pharmaceutical drugs, furniture, kitchen cabinets, bathroom vanities and heavy trucks – threatening to raise prices as Americans are already dealing with high costs of living.

New rates set to take hold on Oct. 1 would be painful for Americans, but it’s also likely that these tariffs will not “materialize and will be adjusted or completely revoked,” Ken Mahoney, CEO of Mahoney Asset Management, told The Post.

Hefty tariff rates have been a frequent negotiation tool from the Trump administration, which has kept import taxes in flux throughout talks with foreign nations, he added. 4

But, if these rates do take effect, a 50% tax on kitchen cabinets and bathroom vanities could cause homeowners to delay renovations, according to Dr. Way

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