Wall Street inched higher early Friday 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, while futures for the Dow Jones Industrial Average gained 0.2%.

Trump said Thursday onsocial media 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%.

Trump also said foreign-made heavy trucks and parts are hurting domestic producers. However, most such trucks are either made in America or

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