US President Donald Trump on Thursday announced new punitive taffs on a wide range of goods imported on 1 October.
The thesis consists of 100% thin on branded pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanity, 30% on upholstered furniture and 25% on heavy duty trucks.
The announcements did not specify whether the new tariffs would be found in addition to other national tariffs or whether the country and the region, such as the European Union and Japan, would be separated. The United States is the largest export market for the German pharmaceutical industry.
What did Trump say about the new tariff?
Trump said a new tariff of 100% would be implemented on all branded or patented drug products imported in the United States, until the company has already started building a manufacturing plant in the country.
Announcing Tafs on Fernic, Trump wrote on Truth Social that the reason for this was the mass “flood” of such products in the United States by other countries, and said that taxes were needed on the kitchen cabinets and couchs imported due to national security and other reasons.
In August, the Speaker vowed to put a new furnace tariff, arguing that he would “bring back the furniture business” to the northern Carolina, South Carolina and Michigan.
Trump insisted that the new tariff on heavy duty trucks was aimed at protecting American manufacturers from “outspoken competition”, and the search for that company would be beneficial from the pakar-down Peterbalt and Canworth, as well as the Demler Truck-Down Freightlineer, MOV.
The US Chamber of Commerce called upon the authorities not to implement the new truck taf. It said that the top five truck import sources were Mexico, Canada, Japan, Germany and Finland, all of the United States partners or close companions who are no threat to American national security. ,
Asian shares collapsed after the announcement
Following the announcement of Trump’s new tariff, shares were tumbled in pharmaceutical companies across Asia, with Japan’s topics pharmaceutical index 1%shut down. Meanwhile, the Hong Kong-listed innovative drug index declined by 2.8%.
South Korea’s SK Biofarmassuticals declined by 2.7%, while Australia’s CSL Biotech firm recorded a decline of 1.6%a day, the session fell by more than 3%first. On tracking Chinese furniture manufacturers, therefore declined by 1.1%.
Trump has elevated tafs for a decisive foreign policy means, using them using them business agreements, concessions and political pressure on other countries. Earlier, he imposed steel, aluminum, light-duty automobiles and parts, and national security tested on copper.
However, the business of Trump administration deal with Japan, the European Union (EU) and the United Kingdom, which includes the commission that tafs on specific products on cap tiffs, such as cars, semiconductors and pharmaceuticals. Therefore, new, high national security tattifies are unlikely to increase the rate of agreeing on them.
Edited by: Scene Sinico