Personally I think it's a mix of two things.

At the risk of being flamed, again, elimination of the income tax seems to be a thing. Two of the four people running for Gov of Michigan right now, are basing their appeal on elimination of the state income tax, and elimination of a 6mil property tax that helps support the public school systems, promising to make up for the lost revenue by eliminating "waste, fraud, and abuse".

...just a way to exert personal power over non-US entities.

The precipitate manner in which the tariffs are being imposed, would lend credence to that theory. But, the constantly shifting trade policy leaves corporations frozen in their tracks, regarding CAPEX decisions, because they have no visibility of what US policy will be in a year or two. So nothing changes, and the US keeps collecting the tariffs.

This is different:

Trump Plans 100% Tariff on Generic Drugs From August 2028

(Bloomberg) -- The US plans to impose a 100% tariff on generic drugs imported to the US beginning in August 2028, President Donald Trump said in a social media post Tuesday.

That levy would then double a year later to 200% in August 2029.

finance.yahoo.com - Trump plans tariff generic

The companies are being given two years to adopt to the new policy. This would appear to be a genuine effort to bring production to the US, rather than generate tariff revenue.

Steve