World shares are mixed after Trump says he will impose new tariffs on drugs and other goods [Globe and Mail, The (Toronto, Canada)]
SUMITOMO CHEM UNSP/ADR (SOMMY)
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Source: Globe and Mail, The
plans for new tariffs including 100% import taxes on pharmaceutical drugs , starting Oct. 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 U.S. brands made in Canada or Mexico. The future for the S&P 500 rose 0.2%. while that for the Dow Jones Industrial Average was up nearly 0.3%. In European trading, Germany's DAX added 0.4% to 23,618.52. France's CAC-40 climbed 0.4% to 7,830.00. Britain's FTSE 100 edged up 0.4% to 9,247.98. It's unclear if the new U.S. tariffs would be added on top of existing duties or if countries with trade deals like the EU would be granted exemptions. Most Asian indexes were in the red, with Japan's Nikkei 225 closing nearly 0.9% lower at 45,35
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