MANILA, Philippines (AP) — Asian shares fell on Friday after President Donald Trump announced 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.

U.S. futures slipped while oil prices rose.

Most Asian indexes were in the red, with Japan’s Nikkei 225 down around 0.3% to 45,629.79.

Sumitomo Pharma Co.’s shares lost 5.2% while Chugai Pharmaceutical sank 3.9%.

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