Tariffs on Various Products - President Trump announced a 100% tariff on brand name or patented pharmaceutical products starting October 1st, unless manufacturers establish a plant in the US [1] - A 50% tariff will be imposed on kitchen cabinets, bathroom vanities, and related products, along with a 30% tariff on upholstered furniture, effective next week [2] - Additionally, a 25% tariff on imported heavy trucks is being introduced, framed as a national security measure to support American truckers [2] Impact on Costs and Prices - Critics argue that these tariffs could increase costs for businesses and consumers, with previous tariffs on steel, aluminum, and copper already raising expenses for US truck manufacturers [3] - Furniture prices have also seen significant increases due to earlier tariffs, with living and dining room pieces rising nearly 10% over the past year according to the Bureau of Labor Statistics [3][4]

This morning, a political one-two punch that could have massive ripple effects through the economy. President Trump revealing a wide-ranging set of new tariffs as a potential government shutdown is just days away. A slew of pharmaceutical products will receive a 100% tariff unless a company is building a manufacturing plant in the United States.>> Pharmaceutical companies are moving back to America where they should be. That's in addition to a 25% tariff on heavy trucks and 50% on kitchen cabinets and bathr ...

Hours after President Donald Trump imposed 100% tariffs on pharmaceuticals with exemptions for companies building manufacturing plants in the U.S., Eli Lilly (NYSE:LLY) and Amgen (NASDAQ:AMGN) announced their latest investments in their home country. Lilly announced the opening of its ...

BREAKING: Inflation Data Cements Rate Cut Expectations President Donald Trump delivered the pharmaceutical industry another blow this week, threatening 100% tariffs on companies who don't have a manufacturing presence in the U.S. In a post on social media platform Truth Social, Trump said the administration will impose a 100% tariff starting Oct. 1 "on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America." The post adds to the fast- ...

BREAKING: Inflation Data Cements Rate Cut Expectations President Donald Trump delivered the pharmaceutical industry another blow this week, threatening 100% tariffs on companies who don't have a manufacturing presence in the U.S. In a post on social media platform Truth Social, Trump said the administration will impose a 100% tariff starting Oct. 1 "on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America." The post adds to the fast- ...

Frederic J. Brown /AFP / Getty Images Some economists expect inflation to peak in December and then fade in 2026 as tariff-related price hikes cease. Key Takeaways Forecasters expect inflation to accelerate in the last part of the year as more companies pass the costs of President Donald Trump's tariffs on to customers. A survey of professional forecasters called for a the Consumer Price Index to rise 3% over the year in the fourth quarter, an acceleration from 2.9% in August. Some economists expect ...

Tariffs Announcement - The US will impose a 100% tariff on branded or patented pharmaceutical products starting October 1st, with exemptions for companies building drug manufacturing plants in the US or those with ongoing construction projects [1][2] - A 25% tariff on imported heavy trucks will also take effect on October 1st [2] - A 50% tariff will be applied to kitchen cabinets, bathroom vanities, and associated products, while a 30% tariff will be imposed on upholstered furniture, both starting on October 1st [3] National Security Justification - The president cited national security as a reason for the new tariffs on kitchen supplies and furniture, indicating a broader interpretation of national security that includes economic productive capacity [3][17] - Section 232 investigations into imports of robotics, industrial machinery, and medical devices may lead to additional tariffs, suggesting a strategic approach to tariff implementation [3][16] Impact on Agriculture - The trade war has negatively affected American farmers, particularly in soybean exports to China, prompting the president to develop a mechanism to transfer tariff revenues to support farmers [4] Trade Agreements and Exemptions - Questions arise regarding how these new tariffs will interact with existing trade agreements with countries like Japan, Korea, and Europe, particularly for products already covered under those deals [5][6] - The potential for exemptions from tariffs has raised concerns about crony capitalism and favoritism towards large businesses, as highlighted by industry leaders [8][9] Future Political Landscape - Speculation exists that even if a Democratic administration were to take power, the current tariffs may not be fully rolled back due to the political implications of harming American workers [20][21] - The ongoing use of tariffs as a tool for political leverage may complicate future trade negotiations and exemptions [22]

Let's turn to the broader market action this morning. Joining us here at Post 9 is DWS Group America's CIO David Biano. Welcome, David.It's good to have you. And today we we've got a nice broad rally, although NASDAQ is actually lagging for a change. Do you buy into the the broadening trend that this rally continues and it doesn't have to be led by big tech.It's a Friday morning and and not too bad. It's been a bit of a tough week though for those arguing for the the broadening of uh the equity market. Uh t ...

Core Points - President Trump announced new tariffs, including a 50% tariff on kitchen cabinets and upholstered furniture, effective October 1 [3][4] - The tariffs are aimed at protecting U.S. manufacturing from what Trump described as unfair foreign competition [5] Impact on Companies - Ikea, a major player in the home furnishing market, is expected to be significantly affected as only about 10% of its products are manufactured in North or South America, with 90% imported [8][9] - Ikea acknowledged that the new tariffs will impact prices for U.S. consumers, despite efforts to keep costs low through domestic sourcing and manufacturing [11] - Other publicly traded furniture companies showed mixed stock reactions, with some stocks remaining relatively flat despite the tariff news [15][16] Consumer Impact - Homeowners and renters are likely to face increased prices for furniture due to the tariffs, as companies may pass on the costs to consumers [12][14] - Companies are expected to first seek price concessions from suppliers before raising prices for consumers [13]

Core Viewpoint - RH's stock declined due to new tariff announcements and updated manufacturing and spending plans, impacting its operational outlook and financial performance [1][6]. Group 1: Tariff Implications - The U.S. government announced a 30% duty on upholstered furniture starting next week, aimed at addressing the influx of imports into the domestic market [2]. - New tariffs include a 100% duty on branded or patented drug imports, a 25% tariff on heavy-duty trucks, and a 50% tariff on kitchen and bathroom cabinets [1]. Group 2: Company Adjustments - RH expects approximately 52% of its upholstered furniture to be produced in the U.S. next year, with this share increasing through 2026 [3]. - The company anticipates an additional $30 million in tariff costs for the second half of the year, net of mitigation, and expects about $40 million in revenue to shift from Q3 to Q4 and Q1 of 2026 [3]. Group 3: Capital Expenditures - RH projects adjusted capital expenditures of $200 million to $250 million in 2026 and $150 million to $200 million in 2027 and beyond, aimed at enhancing supply-chain resilience and supporting long-term brand initiatives [4]. Group 4: Industry Reaction - The tariff announcements have faced pushback from U.S. businesses, with Ikea stating that the furniture levies complicate operating conditions [5]. - Competitors like Williams-Sonoma, Inc. and Wayfair Inc. experienced stock declines following the tariff news [5].