Shafaq News – Tokyo

Asian shares fell on Friday after US President Donald Trump announced plans for new import tariffs, including a 100% tax on pharmaceutical drugs starting October 1. US futures also slipped while oil prices rose.

Japan’s benchmark Nikkei 225 edged down 0.3% to 45,629.79. Pharmaceutical stocks led losses, with Sumitomo Pharma dropping 5.2% and Chugai Pharmaceutical sliding 3.9%.

Government data showed inflation in the Tokyo area rose 2.5% year-on-year in September, the same pace as August but below forecasts of 2.8%.

South Korea’s Kospi index tumbled 2.5% to 3,384.58, extending its losing streak to a third session amid growing concerns over prolonged tariff negotiations with Washington.

Hong Kong’s Hang Seng index declined 0.7% to 26,313.66 and the Shanghai Composite slipped 0.1% to 3,850.07. Elsewhere, Australia’s S&P/ASX 200 gained 0.2% to 8,790.20, India’s BSE Sensex lost 0.7%, and Taiwan’s Taiex retreated 1.5%.

On Wall Street, stocks closed lower on Thursday for a third consecutive day. The S&P 500 fell 0.5% to 6,604.72, the Dow Jones Industrial Average dropped 0.4% to 45,947.32, and the Nasdaq composite sank 0.5% to 22,384.70. Despite the losses, all three remain close to record highs set earlier in the week.

Trump announced the tariffs in a series of Truth Social posts, saying the US will levy 100% tariffs on branded and patented pharmaceutical imports, 25% on heavy trucks, 50% on kitchen cabinets and bathroom vanities, and 30% on upholstered furniture.

He cited national security as a justification for the measures, particularly on trucks and furniture. The tariffs follow earlier Section 232 investigations by the Commerce Department, which evaluates the security risks of imports in sectors including pharmaceuticals, trucking, and furniture.

Trump has previously threatened tariffs of up to 250% on pharmaceutical imports, saying he would start with smaller measures before escalating over time. In early September, his administration also opened Section 232 reviews of personal protective equipment, medical devices, robotics, and industrial machinery.

The United States has used Section 232 to impose duties on steel, aluminum, and cars in recent years. Ongoing reviews of semiconductors and other goods could lead to further tariffs. Trump did not clarify whether the new measures would affect existing trade arrangements with partners such as the European Union and Japan.