Wall Street ticks higher after Trump threat of new tariffs on drugs, furniture and trucks

Wall Street ticks higher after Trump threat of new tariffs on drugs, furniture and trucks Updated 16 mins ago Wall Street is inching higher after U.S. President Donald Trump announced plans for new tariffs including 100% import taxes on pharmaceutical drugs, starting next week. Futures for the S&P 500 and Nasdaq each moved 0.1% higher before the bell Friday, while futures for the Dow gained 0.2%. 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.” Shares of home furnishing companies slid lower on the news. Wayfair and Williams-Sonoma each lost close to 3%, while RH fell 5%.