US President Donald Trump’s latest executive actions and trade moves sent global markets reeling on Friday. From new tariffs on pharmaceuticals, furniture, and heavy trucks to a TikTok US divestiture order, Asian equities opened lower, while crypto markets faced over $1 billion in liquidations. Investors are navigating rising trade tensions, regulatory shifts, and market volatility worldwide. Here’s a glance at major developments on Friday morning. Trump slaps latest salvo of tariffs US President Donald Trump announced a new wave of tariffs set to begin on October 1, 2025, targeting key imports like branded pharmaceutical drugs, kitchen cabinets, upholstered furniture, and heavy-duty trucks. The most impactful move is a 100% tariff on patented medicines, unless companies are actively building manufacturing plants in the US. This is part of Trump’s ongoing “America First” drive to boost domestic production and reduce reliance on foreign imports. The tariffs also include a 50% duty on kitchen cabinets and bathroom vanities, 30% on furniture, and 25% on heavy trucks, affecting industries from home renovation to logistics. Though supporters highlight job protection and industrial revival, economists warn these tariffs could raise consumer prices and intensify inflation pressures. The pharmaceutical industry, especially companies operating globally, faces a critical challenge to ramp up US manufacturing fast or pay heavy tariffs, which might lead to higher medicine costs for consumers. Read full report here. Trump signs executive order on TikTok deal Donald Trump on Thursday signed an executive order declaring that his plan to sell TikTok’s US operations meets the requirements of a 2024 federal law aimed at preventing a ban on the popular app. The order sets the stage for a divestiture of TikTok’s US business from its Chinese owner, ByteDance, to a consortium of American and international investors, including Oracle, media mogul Rupert Murdoch, and tech entrepreneur Michael Dell. The deal, valued at around $14 billion, aims to ensure US user data is managed securely by American entities while keeping the platform operational. Trump noted he won approval from Chinese President Xi Jinping for the arrangement and emphasized that the new governance would treat all viewpoints fairly. The executive order also delays enforcement of the TikTok ban until January 23, 2026, allowing time to finalize the sale. TikTok’s 170 million US users get a reprieve amid national security concerns. Read full report here. Asian markets open in red Asian markets opened lower on Friday, weighed down by a complex mix of factors including fresh US tariffs and stronger-than-expected US economic data. Japan’s Nikkei 225 slipped 0.7%, with traders cautious about how a stronger dollar could hurt export-heavy economies. South Korea’s Kospi 100 dropped over 2%, pressured by tech stocks facing supply chain uncertainties and export challenges. China’s Hang Seng index fell 0.9%, dragged down by drugmakers hit hard by the US 100% tariff on pharmaceutical imports. The mainland’s CSI 300 and Shanghai Composite were also in the red, reflecting renewed valuation concerns and a global risk-off sentiment. India’s markets are expected to open under pressure, especially in pharma and export-oriented sectors, given its role as a major supplier of generics to the US. Investors remain watchful ahead of crucial US inflation data, balancing hopes for economic recovery against rising trade tensions. Read full report here. Crypto liquidations mount ot $1 billion Cryptocurrency markets faced intense selling pressure on Thursday, triggering more than $1 billion in liquidations of leveraged trading positions, according to CoinGlass data. Bitcoin tumbled below $109,000, hitting its lowest level in nearly a month, while ether plummeted 8% toward $3,800. The sharp selloff wiped out over $400 million in ether longs alone, with bitcoin liquidations totaling $265 million. Crypto equities took a hit as well, with Michael Saylor’s Strategy (MSTR) stock falling as much as 10% to a five-month low, erasing all its gains for 2025. Other bitcoin mining companies like MARA and Riot Platforms also declined by 7-8%. This sudden downturn has pushed bitcoin towards critical support levels near $107,000, raising questions about whether it can hold or if further declines lie ahead. The selloff reflects mounting concerns about market volatility and leverage risk in crypto trading. The post Morning Brief: Trump doubles pharma tariffs, TikTok's executive order, Asian markets react appeared first on Invezz
