US EditionPresident Trump announces new tariffs amid rising inflation
President Trump imposes tariffs up to 100% on pharmaceuticals and up to 50% on home goods to combat inflation, with the personal consumption expenditures price index at 2.7%, officials said.
- President Donald Trump announced new tariffs on pharmaceuticals, trucks, and furniture, set to take effect Wednesday, with rates from 25% to 100%.
- Friday's Commerce Department data showed the PCE price index at 2.7% in August, with year‑over‑year core inflation rising to 2.9%, above the Federal Reserve's 2% target.
- Trump said branded pharmaceutical products will face a 100% tariff unless firms build a U.S. manufacturing plant, with other levies including 50% on kitchen cabinets and bathroom vanities, 30% on upholstered furniture, and 25% on heavy trucks.
- Stocks climbed Friday as investors digested Trump’s tariff announcement and inflation data, with US pharmaceutical stocks rising and Asian drugmakers falling.
- Experts warn the tariffs will likely raise prices for targeted goods and increase uncertainty for businesses, while homebuilder companies face rising input costs amid relatively weak demand and a recent Federal Reserve rate cut.
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72 Articles
U.S. shares closed upwards on Friday, as investors weighed a new round of Trump's punishment tariffs and, at the same time, gave a breath of relief to an inflation report that remained in line with expectations.The Dow Jones Industrial Average (^DJI) led the profits with an increase of approximately 0.8%, while the S&P 500 (^GSPC) won 0.5%.The Nasdaq Composite (^IXIC), with its high technological weight, rose by 0.3%. Today's earnings put an end…
EUR/GBP slips as NATO tensions and Trump tariffs weigh on Euro | The New York Ledger
NATO alerts Russia after Estonia airspace attack, raises geopolitical threats that pressed the Euro. ECB Customer Expectations Study reveals inflation projection at 2.8% for 1 year, five-year forecast increases decently. Traders eye UK spending plan information and Eurozone inflation information, together with Trump’s brand-new tariffs targeting essential European exports. The Euro reversed its course versus the British Pound amidst a limited fi…
Donald Trump, U.S. President. Image: Flickr White House. Asia-Pacific Stock Exchanges Most Asian stocks fell on Friday, with pharmaceutical companies leading the losses after U.S. President Donald Trump imposed tariffs on imports from the sector, while falls in technological actions also weighed. In Asia, the Tokyo Stock Exchange Nikkei index has closed with a fall of 0.80%, while the Shanghai Stock Exchange benchmark dropped by 0.65%, the Shenz…
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