President Trump slaps tariffs on imported drugs. Live from the UK, this is the Marketplace Morning Report from the BBC World Service. I'm William Lee Adams. Good morning.

U.S. President Donald Trump has announced a new wave of tariffs, including a 100% levy on branded or patented drug imports from the 1st of October. That's unless a company is building a factory in the US.

Here's the BBC's Katie Silver with more details.

It's part of a new wave of tariffs, but by far Far Farmer, the most hit with that big,

big triple-digit figure.

But he says if farmer companies already have factory construction underway, they'll be exempt.

But that is likely to be very few and far between.

We're likely to see companies from across the UK, Ireland, Germany, Switzerland and Japan being the most impacted.

The UK, for its part, exports about $6 billion worth of pharmaceutical products, according to the United Nations,

to the US.

So they're certainly going to feel the hit.

But as I said, this is part of a new wave across a number of different sectors.

So he's also announced or posted that he's going to be putting a 25% levy on big trucks,

a 50% levy on furniture things like kitchen and bathroom cabinets when one does

renovations, and a 30% tariff on furniture itself. He said it was due to the large-scale flooding of

these products into the US by some other countries. Katie Silver. The prospect of tariffs has

rattled the sector. So says Jane

Sidnam, a director at the investment firm, Rathbones. It's been quite a rollercoaster ride,

hasn't it? They were initially exempted, but there was a sort of warning flag raised. And

certainly the pharmaceutical sector in terms of share prices has been under pressure for quite

some time, both in the UK and

the United States and Europe. Nobody likes uncertainty, and that's been keeping a cloud over the

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