00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President Donald Trump announced the U.S. will impose a 100% tariff on branded or
00:06patented pharmaceutical imports starting October 1st, according to CNBC.
00:10President said the measure exempts companies already building drug manufacturing plants in
00:13the U.S. Trump said pharmaceutical projects that have already broken ground or under construction
00:18will be exempt from the new tariff. He also announced 25% tariff on heavy trucks
00:22and a 50% lobby on kitchen cabinets and bathroom vanities.
00:25The Commerce Department launched new probes this week in robotics, industrial machinery
00:30and medical devices with the potential for more tariffs.
00:33Any new sector-specific tariffs would add to Trump's existing country-specific measures
00:37through the EU and Japan have secured exemptions.
00:40For all things money, visit Benzinga.com.
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