Trump Announces New Tariffs on Imports

European stocks are expected to open higher on Friday as investors react to the latest trade policy announcements from the White House. President Donald Trump announced 100% tariffs on pharmaceutical imports to the U.S. from October 1, with exemptions for companies building manufacturing facilities in America. JP Morgan strategists downplayed the impact of the tariffs on the pharmaceutical sector. The European Union is also planning to impose tariffs of up to 50% on Chinese steel. Economic data releases on Friday include Spain's inflation print, U.K. mortgage lending figures, and a report on European economic sentiment.

President Donald Trump announced new tariffs on imported goods, including a 25% tariff on heavy trucks and a 30% tariff on upholstered furniture, effective October 1, 2025. The tariffs are intended to protect US manufacturing and national security. Trump claimed that foreign manufacturers have 'flooded' the US market with cheap products, harming American businesses. The tariffs on furniture and trucks are expected to further increase prices, which have already risen due to previous tariffs imposed by Trump. The new tariffs will impact companies such as Wayfair, RH, and Williams-Sonoma, whose shares fell in after-hours trading.

US President Donald Trump has announced a new round of tariffs on imported goods, including a 100% tariff on branded pharmaceuticals and a 25% tariff on heavy-duty trucks. The tariffs are part of Trump's trade policy and are intended to protect US industries and raise revenue. The move has been met with opposition from industry groups and trading partners.