Trump's New Tariff Blitz: A Trade War Intensifies

In a bold move to protect U.S. manufacturing and national security interests, President Donald Trump has announced new import tariffs, including a 100% levy on branded drugs and a 25% duty on heavy-duty trucks, effective next week.

The announcement further heats up the ongoing trade war, causing ripples across global markets. While Asian pharmaceutical stocks fell, European shares stabilized despite initial losses. Investors remain wary as Trump's tariffs threaten to escalate financial strains caused by disrupted supply chains and rising consumer prices.

With recent trade agreements facing strain due to new tariffs, Trump hasn't finalized a preliminary deal with the EU to cap tariffs at 15%. Meanwhile, foreign policy tools are now in play as Trump seeks to revitalize U.S. furniture production by imposing hefty duties on imports of kitchen cabinets and bathroom vanities.