Trump announces 100% tariffs on generic drugs will be imposed two years from now.
US President Trump announced in a post that starting August 1, 2026, all generic drugs imported to the United States will remain subject to zero tariffs for the next two years. After the two-year period, a 100% tariff will be imposed on the relevant products for one year; thereafter, the tariff will be further increased to 200%. Trump stated that the policy is designed to drive the reshoring of generic drug manufacturing to the U.S. Companies that fail to build production facilities and related equipment in the U.S. within the specified timeframe will face tariff penalties. The current policies for patented drugs, branded drugs, and innovative drugs will remain unchanged as they have achieved good results. In an announcement released by the White House on April 2, U.S. President Trump signed a document under Section 232 of the 1962 Trade Expansion Act, imposing a 100% tariff on imported patented drugs and pharmaceutical ingredients. The measure also provides paths for tariff exemptions or reductions, aiming to force pharmaceutical companies to reach agreements with the White House on issues such as drug prices and industry reshoring.
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The Nasdaq 100 index extended its gain to 2%.
According to market data from BIT (bit.com), the Nasdaq 100 Index’s gain widened to 2%, hitting a new daily high. Its constituent stocks posted the following increases: Nebius rose 16.1%, SanDisk gained 13.2%, Teradyne climbed 13.1%, Micron advanced 13%, Western Digital increased 12.8%, Seagate Technology rose 11.5%, while Lumentum and CoreWeave each gained 9.3%.
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US Secret Service conducts special operation against cyber fraud, seizes over $25 million in cryptocurrency assets.
According to official announcements, the U.S. Attorney’s Office for the District of Columbia and the U.S. Secret Service Washington Field Office jointly announced today that multiple investigations conducted by their joint cyber fraud task force have seized over $25 million in cryptocurrency assets. The assets are linked to an international fraud network targeting residents of the U.S. and Canada, and are part of the more than $800 million in illicit assets cumulatively recovered by the U.S. Department of Justice’s Fraud Center Strike Force, which was established in 2025.
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A whale transferred 16 million ENA to Binance, valued at approximately $1.37 million.
According to monitoring by Onchain Lens, a whale address withdrew 16 million ENA tokens (valued at approximately $1.37 million) from a Gnosis multi-sig wallet, then transferred the tokens to Binance, likely preparing to sell.
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SpaceX’s massive lock-up period is approaching, with over $100 billion worth of its stock set to become tradable.
According to Bloomberg, SpaceX has kicked off one of the largest stock lock-up expirations in capital market history, with up to $116 billion worth of shares becoming eligible for sale for the first time next month. The restriction barring insiders from selling up to 911.5 million shares will expire on August 6, two days after the rocket, satellite and artificial intelligence firm releases its first quarterly earnings report. This is just the start; billions of shares will become tradable by the end of this year.
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Analyst: European Central Bank expected to hold interest rates steady this week and maintain a hawkish bias.
Nuveen global investment strategist Laura Cooper said in a report that following June’s interest rate hike, the European Central Bank (ECB) will likely hold interest rates steady at this week’s meeting while maintaining a hawkish stance. Cooper noted that if renewed tensions drive energy prices higher, the ECB will remain open to further policy tightening. She added that inflation is milder than feared, the Purchasing Managers’ Index (PMI) pricing subindex shows almost no signs of reaccelerating, and producer price data confirms upstream cost pressures are easing. “These factors provide a reason for holding steady this month,” she said. The complication is that commodity supplies are being disrupted again, which could reignite energy price pressures just as the ECB gains confidence in its inflation decline path.
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