December S&P 500 E-Mini futures (ESZ25) are trending up +0.03% this morning as investors weigh U.S. President Donald Trump’s latest tariff salvo and await the release of the Federal Reserve’s first-line inflation gauge for clues on the central bank’s next policy move.
After a stretch of calm on the tariff front, U.S. President Donald Trump announced a fresh round of sectoral tariffs set to take effect on October 1st. President Trump said pharmaceutical companies would face a 100% tariff on branded or patented drugs. “Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,” Trump posted on Truth Social. Also, imported heavy trucks will face a 25% tariff, kitchen cabinets and bathroom vanities will be hit with a 50% duty, and upholstered furniture imports will be taxed at 30%.
