00:00President Trump was up late last night posting about new tariffs.
00:04The latest targets, drugs, trucks, and kitchen cabinets.
00:08Trump said brand name or patented pharmaceutical products will be subject to 100% tariffs starting October 1st,
00:15unless the drug maker is building a manufacturing plant here in the U.S.
00:19Meanwhile, he announced a 50% tariff on kitchen cabinets, bathroom vanities, and related products,
00:25plus a 30% tariff on upholstered furniture also starting next week.
00:30Now, on top of that, Trump is imposing a 25% tariff on imported heavy trucks.
00:35He framed the move as a national security measure, saying it will keep American truckers financially healthy and strong.
00:41The White House says these tariffs protect American industry, but critics warn they could raise costs for businesses and consumers.
00:49Previous tariffs, including 50% levies on steel, aluminum, and copper, have already raised costs considerably for U.S. truck manufacturers.
00:56And furniture prices have already jumped under previous tariffs as well.
01:01Living and dining room pieces are up nearly 10% over the past year, according to the Bureau of Labor Statistics.
01:07That'll do it for your daily briefing.
01:09From the New York Stock Exchange, I'm Caroline Woods with The Street.
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