We have some industry updates that we wanted to share with you. Yesterday evening, President Trump communicated through Truth Social that he’s planning tariffs on imports of pharmaceuticals, furniture and cabinetry, and heavy trucks, effective Wednesday, October 1st, 2025. Here are the details:
Pharmaceuticals
An up to 100% tariff will be levied on imported branded drugs, most likely those under HS chapter 30, with potential exemptions for companies in the process of building facilities in the US.
Furniture and Cabinetry
A 30% tariff is to be levied on upholstered furniture and a 50% tariff on kitchen cabinetry and bathroom furniture/vanities. This will most likely affect products imported under HS chapters 44 and 94.
Heavy Trucks
A 25% tariff will be placed on heavy-duty trucks – most likely those under HS Chapter 87.
We expect the Executive Order making these tariffs official to come out in the coming days which should help us provide more details.
