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Trump to put import taxes on pharmaceutical drugs, tanks and trucks
Written by Josh Bouak, Associated Press
Washington (AP) – President Donald Trump He said on Thursday that he would put import taxes by 100 % on pharmaceutical drugs, 50 % on kitchen cabinets and bathroom arrogance, 30 % on upholstered furniture and 25 % on heavy trucks starting on October 1.
The posts on his social media website showed that Trump’s sincerity of definitions has not ended Commercial frameworks and import taxes It was launched in August, which is a reflection of the president’s confidence that taxes will help reduce the government’s budget deficit as local manufacturing increases. But the additional definitions risk the intensification of inflation that was already raised, as well as the slowdown Economic growthWith the adaptation of employers with Trump’s previous import taxes with new levels of uncertainty.
Jerome Powell, Federal Reserve Chairman Jerome Powell, warned: “We have started seeing the prices of goods appearing through high inflation.” In a modern press conferenceAdding that the high costs of goods at the expense of “most” or “all” of the increase in inflation levels this year.
Trump said on the social truth that pharmaceutical definitions will not apply to companies that build manufacturing factories in the United States, which he knew either by “breaking the land” or “under construction.” It was not clear how definitions would be applied to companies that already have factories in the United States
In 2024, America imported approximately $ 233 billion of pharmaceutical and medical products, according to the Statistical Office. The probability of doubling prices for some medications can send shock waves to voters such as health care expenses, as well as medical and medical care costs, which are likely to increase.
Trump said that the manufacturers of foreign furniture and treasures were overwhelming the United States with its products and that the definitions of “national security and other reasons should be applied.” The new definitions on the cabinets may increase the costs of home construction at a time when many people seek to buy a house, as it feels a mixture of housing lack and high mortgage rates.
Trump said that trucks and heavy parts of a foreigner hurt local producers.
“Manufacturers of large truck companies, such as Peterbilt, Kenworth, Freightliner, Mack Truecks and others, will be protected from the attack from external interruptions,” as Trump was published.
Trump has long maintained that the customs tariff is the key to force companies to invest more in local factories. Fears have rejected that importers will simply transfer a lot of taxes for consumers and companies in higher prices.
The president continues to claim that inflation no longer represents a challenge to the American economy, despite evidence, on the contrary. The consumer price index increased by 2.9 % over the past 12 months, an increase of an annual pace of 2.3 % in April, when Trump for the first time launched a sweeping set of import taxes.
There is no evidence that the customs tariff creates the functions of the factory or more manufacturing facilities. Since April, the work statistics office has reported that manufacturers reduced 42,000 jobs and that builders reduce them by 8,000.
“There is no inflation,” Trump told reporters on Thursday. “We are verifying incredible success.”
It was originally published:
Trump to put import taxes on pharmaceutical drugs, kitchen cabinets, furniture and heavy trucks
