President of the United States, Donald Trump, announced that he will impose new tariffs starting October 1: 100% on pharmaceutical drugs and other products will be affected.
Through his social media, Trump emphasized that these tariffs are part of his plan to reduce the federal deficit and stimulate manufacturing within the country.
The new tariffs also include a 50% levy on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks.
With this move, the president maintains his protectionist stance, after having already imposed tariffs on other products in August, reflecting his belief that tariffs can strengthen the national economy.
Experts warn that the new taxes could have negative consequences on the economy.
Among the potential effects are an increase in inflation, which is already high, and a slowdown in economic growth, in a context where employers are still adjusting to previous tariffs.
The private sector could be particularly affected, as increases in the costs of supplies and goods could be passed on to consumers. From pharmaceuticals to household items and heavy transportation, experts warn about the additional pressure these measures could place on American households.
“We are beginning to see that the prices of goods are contributing to higher inflation,” warned Federal Reserve Chair Jerome Powell in a recent press conference.
Image: DiarioNY
