<h1>President announces sweeping import tariffs: 100% drugs, 50% cabinets, 30% furniture, 25% trucks; pharma exemption for firms building U.S. plants</h1> The president announced new import tariffs effective October 1 imposing 100% on pharmaceutical drugs, 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture and 25% on heavy trucks, with a pharmaceutical exemption for foreign firms that are 'breaking ground' or 'under construction' on U.S. manufacturing plants. The administration framed the measures as tools to reduce the budget deficit, bolster domestic manufacturing and address national security concerns, while critics warn the tariffs could worsen inflation, slow economic growth and increase uncertainty for employers already adjusting to earlier trade measures.