Last week, the U.S. announced a number of new tariff adjustment measures during this period. Specifically, U.S. President Trump declared on October 6 that a 25% tariff would be imposed on all medium- and heavy-duty trucks imported into the U.S., effective November 1.

A tariff on pharmaceuticals, previously announced in late September, also took effect on October 1, levying a 100% tariff on all branded or patented pharmaceutical products—unless the relevant enterprises build pharmaceutical factories in the U.S.

The most high-profile development occurred on October 10, when Trump announced that an additional 100% tariff would be imposed on all goods imported from China starting November 1, and this tariff will be stacked on top of existing tariffs. Reports indicate that this move is in response to China’s previously announced export controls on rare earth materials; Trump also stated that if China abandons the relevant measures, the U.S. may suspend this tariff.

In addition, the U.S. also announced that it would implement export controls on “all critical software” on the same day.