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Former President Donald Trump announced a new series of tariffs on Thursday, targeting imported drugs, heavy-duty trucks, and kitchen/bathroom cabinets. He stated the 100% tariff on branded drugs would be waived if manufacturers build plants in the US. Trump cited protection for American manufacturers against foreign "flooding" and "unfair competition." These industry-focused duties expand his previous tariff policies, despite concerns from businesses about rising consumer costs and reliance on allied suppliers for parts.

Prepared by Christopher Adams and reviewed by editorial team.