President Donald Trump is back on the tariff warpath, this time aiming at kitchen cabinets, bathroom vanities, heavy trucks and even your medicine cabinet.
Starting October 1, imported drugs could face a 100% levy unless the manufacturer is building a plant in the US. Cabinets get a 50% hit, heavy trucks 25%, and upholstered furniture another 30%.
Trump insists the duties will protect American makers from a “flood” of foreign goods, even as business groups warn it’s more likely to flood customers with higher prices. Mexico, Canada and Europe, which supply most truck parts, may not be thrilled either.
Meanwhile, Trump floated the idea of using tariff cash to bail out farmers stung by the very same tariffs. All this comes while Washington is still trying to hammer out a trade deal with China, with a big Boeing order dangling as the possible prize.