US President Donald Trump has announced sweeping new tariffs on pharmaceuticals, trucks, and home goods, escalating his protectionist trade agenda.

From 1 October, a 100% tariff will apply to branded or patented pharmaceutical products unless manufacturers build plants in the United States, Trump said on his Truth Social platform late Thursday.

He also confirmed a 25% tariff on imported heavy trucks, citing national security and support for US makers such as Peterbilt, Kenworth, Freightliner, and Mack. Shares in European rivals Volvo and Daimler fell sharply after the news.

The administration launched a Section 232 investigation earlier this year to assess truck imports, giving the White House broad authority to impose the duties. Trump has frequently invoked the measure to justify restrictions on goods deemed a threat to national security.

Additional tariffs include a 50% levy on kitchen cabinets, bathroom vanities, and related products, and a 30% tariff on upholstered furniture. Imports, largely from Asia, account for 60% of all US furniture sales, according to official data. Shares in retailers Wayfair and Williams Sonoma dropped in after-hours trading.