Asian shares tumble after Trump says he will impose new tariffs on drugs and other goods

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.”