• About us
  • Contacts
  • Privacy Policy
  • Terms and Conditions
  • Email Whitelisting
Stock Market Hour
No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Stock Market Hour
No Result
View All Result
Home Economy

Trump says U.S. will impose new tariffs on heavy trucks, drugs and kitchen cabinets

StockMarketHour by StockMarketHour
September 30, 2025
in Economy
0
Trump says U.S. will impose new tariffs on heavy trucks, drugs and kitchen cabinets
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

President Donald Trump on Thursday announced a new round of punishing tariffs, saying the United States will impose a 100% tariff on imported branded drugs, 25% tariff on imports of all heavy-duty trucks and 50% tariffs on kitchen cabinets.

Trump also said he would start charging a 30% tariff on upholstered furniture next week.

He said the new heavy-duty truck tariffs were to protect manufacturers from “unfair outside competition” and said the move would benefit companies such as Paccar-owned PCAR.O Peterbilt and Kenworth and Daimler Truck-owned DTGGe.DE Freightliner.

Trump has launched numerous national security probes into potential new tariffs on a wide variety of products.

He said the new tariffs on kitchen, bathroom and some furniture were because of huge levels of imports that were hurting local manufacturers.

“The reason for this is the large-scale ‘FLOODING’ of these products into the United States by other outside Countries,” Trump said, citing national security concerns about U.S. manufacturing.

The U.S. Chamber of Commerce urged the department not to impose new tariffs, noting the top five import sources are Mexico, Canada, Japan, Germany and Finland “all of which are allies or close partners of the United States posing no threat to U.S. national security.”

Mexico is the largest exporter of medium- and heavy-duty trucks to the United States. A study released in January said imports of those larger vehicles from Mexico have tripled since 2019.

Higher tariffs on commercial vehicles could put pressure on transportation costs just as Trump has vowed to reduce inflation, especially on consumer goods such as groceries.

Tariffs could also affect Chrysler-parent Stellantis STLAM.MI, which produces heavy-duty Ram trucks and commercial vans in Mexico. Sweden’s Volvo Group VOLVb.ST is building a $700 million heavy-truck factory in Monterrey, Mexico, set to start operations in 2026.

Mexico is home to 14 manufacturers and assemblers of buses, trucks, and tractor trucks, and two manufacturers of engines, according to the U.S. International Trade Administration.

The country is also the leading global exporter of tractor trucks, 95% of which are destined for the United States.

“We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!” Trump added.

Mexico opposed new tariffs, telling the Commerce Department in May that all Mexican trucks exported to the United States have on average 50% U.S. content, including diesel engines.

Last year, the United States imported almost $128 billion in heavy vehicle parts from Mexico, accounting for approximately 28% of total U.S. imports, Mexico said.

The Japanese Automobile Manufacturers Association also opposed new tariffs, saying Japanese companies have cut exports to the United States as they have boosted U.S. production of medium- and heavy-duty trucks.

This post appeared first on NBC NEWS

Previous Post

JD Vance says government likely ‘headed into a shutdown’ after Trump meets with Dems

Next Post

Trump, Democrats locked in endless cycles of payback after Comey indictment and targeting president’s enemies

StockMarketHour

StockMarketHour

Next Post
Trump, Democrats locked in endless cycles of payback after Comey indictment and targeting president’s enemies

Trump, Democrats locked in endless cycles of payback after Comey indictment and targeting president’s enemies

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
  • Trending
  • Comments
  • Latest
Iranian Rapper Toomaj Salehi Faces Death Sentence for Speaking Out

Iranian Rapper Toomaj Salehi Faces Death Sentence for Speaking Out

May 6, 2024
‘Fox News Delivers Shocking Blow to Republicans’ case against Biden!’

‘Fox News Delivers Shocking Blow to Republicans’ case against Biden!’

September 26, 2023
CHARBONE Powers Up: Ready to Debut First Green Hydrogen Facility & Secures Offer for Hydro Project Assets

CHARBONE Powers Up: Ready to Debut First Green Hydrogen Facility & Secures Offer for Hydro Project Assets

May 2, 2024
Tesla’s Supercharger Team Slashed by Musk: What’s in Store for America’s EV Network?

Tesla’s Supercharger Team Slashed by Musk: What’s in Store for America’s EV Network?

May 6, 2024
Tech Weekly: Tech Stocks Brush Off US Government Shutdown, Nasdaq Hits Intraday Records

Tech Weekly: Tech Stocks Brush Off US Government Shutdown, Nasdaq Hits Intraday Records

0
“2,000 Workers Sent Home: General Motors Plant Goes Idle as Strike Intensifies

“2,000 Workers Sent Home: General Motors Plant Goes Idle as Strike Intensifies

0
“The Lofty Price of Olive Oil: Record Highs Spark Cooking Oil Thefts

“The Lofty Price of Olive Oil: Record Highs Spark Cooking Oil Thefts

0
“Joint Chiefs Chair Confirmed Despite Tuberville Blockade: Senate Breathes Sigh of Relief!

“Joint Chiefs Chair Confirmed Despite Tuberville Blockade: Senate Breathes Sigh of Relief!

0
Tech Weekly: Tech Stocks Brush Off US Government Shutdown, Nasdaq Hits Intraday Records

Tech Weekly: Tech Stocks Brush Off US Government Shutdown, Nasdaq Hits Intraday Records

October 4, 2025
Top 5 Canadian Mining Stocks This Week: Prospector Metals Gains 356 Percent

Top 5 Canadian Mining Stocks This Week: Prospector Metals Gains 356 Percent

October 4, 2025
Editor’s Picks: Gold Price Sets Sights on US$3,900, Silver Breaks US$48

Editor’s Picks: Gold Price Sets Sights on US$3,900, Silver Breaks US$48

October 4, 2025
Trump extends US security guarantee to Qatar, elevating Gulf ally to near-NATO status

Trump extends US security guarantee to Qatar, elevating Gulf ally to near-NATO status

October 4, 2025

Recent News

Tech Weekly: Tech Stocks Brush Off US Government Shutdown, Nasdaq Hits Intraday Records

Tech Weekly: Tech Stocks Brush Off US Government Shutdown, Nasdaq Hits Intraday Records

October 4, 2025
Top 5 Canadian Mining Stocks This Week: Prospector Metals Gains 356 Percent

Top 5 Canadian Mining Stocks This Week: Prospector Metals Gains 356 Percent

October 4, 2025
Editor’s Picks: Gold Price Sets Sights on US$3,900, Silver Breaks US$48

Editor’s Picks: Gold Price Sets Sights on US$3,900, Silver Breaks US$48

October 4, 2025
Trump extends US security guarantee to Qatar, elevating Gulf ally to near-NATO status

Trump extends US security guarantee to Qatar, elevating Gulf ally to near-NATO status

October 4, 2025

Disclaimer: StockMarketHour.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • About us
  • Contacts
  • Privacy Policy
  • Terms and Conditions
  • Email Whitelisting

Copyright © 2025 StockMarketHour. All Rights Reserved.

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 StockMarketHour. All Rights Reserved.