MIRIAM NNOLI 
President Donald Trump of the United States (US), on Thursday, imposed tariffs on pharmaceuticals, big-rig trucks, home renovation fixtures, and furniture, reviving his global trade war.
Speaking in a statement on his Truth Social platform, President Trump said the truck tariffs were “For many reasons, but above all else, for National Security purposes!”
New Telegraph reports that the announcement comes as the harshest trade policy by the President since last April’s shock unveiling of reciprocal tariffs on virtually every US trading partner across the globe.
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He said, “Starting October 1, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America.”
In a separate post, he wrote, “a 25 per cent tariff on all ‘Heavy (Big) Trucks’ made in other parts of the world” to support US manufacturers such as “Peterbilt, Kenworth, Freightliner, Mack Trucks and others.”
Foreign companies that compete with these manufacturers in the US market include Sweden’s Volvo and Germany’s Daimler, which includes brands Freightliner and Western Star.
Shares in both companies were sharply lower in after-hours trading in Europe.
