Asian Shares Fall As Trump Plans New Drug, Goods Tariffs

2025-09-26 05:03:49

(MENAFN- Kashmir Observer)
Reuters Photo

Manila – Asian shares fell on Friday after President Donald Trump announced plans for new tariffs including 100 per cent import taxes on pharmaceutical drugs starting October 1.

Trump said Thursday on his social media site that foreign makers of furniture and cabinetry were flooding the United States with their products and that tariffs must be applied“for National Security and other reasons.”

He said foreign-made heavy trucks and parts are hurting domestic producers. However, most such trucks are either made in America or are US brands made in Canada or Mexico.

US futures and oil prices edged higher.

Most Asian indexes were in the red, with Japan's Nikkei 225 down nearly 0.9 per cent to 45,354.99.

Sumitomo Pharma Co's shares lost 3.5 per cent while Chugai Pharmaceutical sank nearly 3 per cent.

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