If Trump follows through with his threat, it will mark the first time he’s essentially imposed a tariff on a service rather than a good. The president initially threatened a 100% tariff on foreign-produced movies in May, arguing that other countries offer tax incentives that have drawn filmmakers abroad. Hollywood was completely caught off guard when Trump first previewed the tariff in May. As of Wednesday, the administration is set to impose a 100% tariff on branded drugs, with some exceptions; a 25% tariff on heavy trucks; a 50% tariff on kitchen cabinets and vanities; as well as a 30% tariff on upholstered furniture. In a separate social media post on Monday, Trump said he plans to impose a “substantial” tariff on all furniture imported into the United States.