World Business Report Businesses assess Trump tariffs on drugs, trucks and furniture
Sep 26, 2025
Claire Jones, US Economics Editor at the Financial Times, dives into the implications of President Trump's recent tariffs, including a shocking 100% levy on branded medicines. She discusses the potential impact on both US and European markets, along with the feasibility of reshoring pharmaceutical manufacturing. The conversation pivots to the furniture industry, highlighting concerns about new tariffs affecting pricing and supply chains. They also touch on the toll these tariffs could take on consumer prices and the overall competitiveness of US manufacturers.
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Tariffs Create Major Export Uncertainty
- The US announced broad new tariffs including up to 100% on branded drugs and large levies on trucks and furniture, creating huge uncertainty for exporters.
- Claire Jones notes details and carve-outs matter and markets waited for clarification rather than selling off healthcare stocks.
German Pharma's Alarm Over 100% Tariff
- Hans Trutl from Germany's VFA warned a 100% tariff would be devastating given the US is a quarter of German pharma exports.
- He described urgent talks between EU and US trade officials to resolve differing interpretations.
Big Firms Can Cushion Shock
- Big pharma may better absorb tariffs because many large firms already have US plants, reducing immediate share price shocks.
- Chris Lowe says investors largely waited for detail rather than selling off, reflecting that nuance.