Former President Donald Trump has clarified the scope of his recent tariff measures, stating that companies that have already begun construction of plants in the U.S. will be exempt from the new pharmaceutical tariffs. In a post, he wrote, “There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started. Thank you for your attention to this matter!”
Trump also announced sweeping tariffs on a variety of household products, including imported kitchen cabinets and certain types of furniture, potentially adding to the rising costs in this category seen in recent months. According to CNN, Trump detailed the new tariffs in a Truth Social post, stating:
“We will be imposing a 50 percent Tariff on all Kitchen Cabinets, Bathroom Vanities, and associated products, starting October 1st, 2025. Additionally, we will be charging a 30 percent Tariff on Upholstered Furniture.”
These tariffs come amidst a notable increase in furniture prices over the past year. Data from the Bureau of Labor Statistics (BLS) shows that overall furniture costs rose 4.7 percent compared to August 2024. Specifically, living room and dining room furniture prices jumped 9.5 percent over the last 12 months.
The surge in furniture prices is closely linked to recent tariff hikes on imports from China and Vietnam, the two largest sources of imported furniture into the U.S. Last year, both countries exported approximately USD 12 billion worth of furniture and fixtures, according to data from the U.S. Commerce Department. Notably, furniture prices had generally declined for about two and a half years before these tariffs were introduced.
Trump defended the tariffs, arguing that foreign manufacturers have been oversupplying the U.S. market. He described the large-scale “flooding” of products from other countries as “a very unfair practice,” emphasizing the need to protect U.S. manufacturing for national security and other reasons.
Meanwhile, new tariff rates affecting dozens of countries were introduced in August, following delays that allowed time for trade negotiations. These include:
– 50 percent tariffs on Indian goods, with an additional 25 percent penalty for trade related to Russia
– 50 percent tariffs on Brazilian goods
– 30 percent tariffs on South African goods
– 20 percent tariffs on Vietnamese goods
– 15 percent tariffs on Japanese goods
– 15 percent tariffs on South Korean goods
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