US President Donald Trump introduced a brand new wave of tariffs on Thursday, together with a 100% levy on branded medicine which might be manufactured exterior the US.
Washington may also impose a 25% tariffs on imports of all heavy-duty vehicles and 50% levies on kitchen and toilet cupboards, he stated on his Fact Social platform.
“The explanation for that is the massive scale “FLOODING” of those merchandise into the USA by different exterior Nations,” Trump wrote, citing the necessity to shield American producers from international imports.
The bulletins come regardless of calls from US companies for the White Home to not impose additional tariffs.
Trump stated the tariffs on heavy vehicles have been to guard US producers from “unfair exterior competitors” and that the duties would assist carry American firms akin to Peterbilt and Mack Vans.
The brand new levies on kitchen and toilet cupboards, in addition to another furnishings, have been in response to excessive ranges of imports, which harm native producers, he stated.
Trump’s sweeping new tariffs on greater than 90 nations around the globe got here into impact in early August, as a part of his insurance policies aimed toward boosting jobs and manufacturing within the US, amongst different political objectives.
