US President Donald Trump’s tariff strategy injected uncertainty into global financial markets, exacerbated by legal contestations to Trump rates and pressure from bilateral trade agreements.
Trump’s decree on “reciprocal” tariffs for exports of 69 business partners, listing higher import rates from 10% to 41%, entered into force on August 7, raising the average US import rate to the highest in a century.
The latest tax round includes a 100% rate on imported or patented pharmaceutical imports and a 25% tariff over heavy trucks as Trump intensifies efforts to remodel global trade.
See below a schedule of the next events and dates that can influence US tariff policy.
October 1st
The United States imposed a 100% rate on imports of brand or patented pharmaceutical products, with some exceptions for companies that are building a factory in the United States. Trump also imposed 25% rates on heavy trucks.
October 6th and 7th
Canadian Prime Minister Mark Carney’s office said he plans a trip to Washington to discuss economic and security issues, including a meeting with Trump on October 7.
October 14
Trump 10% tariffs on imported wood and wood, 25% tariffs on kitchen cabinets, bathroom cabinets and upholstered furniture.
November 10
The tariff truce between the US and China is extended until the beginning of November, providing a relief during the seasonal increase in imports before the holiday season.
January 1, 2026
Taxes will increase further on January 1, 2026 to 30% for upholstered furniture and 50% for cabinets and offices from countries without commercial agreements.
