President Donald Trump has announced a fresh set of tariffs that will come into force on October 1.
The latest measures include a 100% tariff on certain imported pharmaceutical products.
However, companies can avoid the steep duty if they are actively constructing manufacturing plants within the United States.
In addition to drugs, tariffs will also be levied on heavy trucks, at 25%, and home goods such as kitchen cabinets and bathroom vanities, at 50%.
The White House stated the tariffs aimed to shield American industries and bolster domestic production, considered vital for national security and supply chain resilience.
The announcement was made on the President’s social media platform and has prompted market movements and debate within trade circles.
This latest move forms part of a broader strategy to encourage companies to manufacture on American soil rather than outsource production abroad.
