The S&P/ASX 200 slipped 0.2% to below 8,760 on Friday, reversing the prior session’s gains, as sentiment was hit by US President Donald Trump’s announcement of fresh tariffs. Starting October 1, the US will impose a 100% tariff on branded and patented pharmaceutical imports, with exemptions for firms building plants in the US. Trump also unveiled tariffs of 50% on kitchen cabinets and bathroom vanities and 25% on trucks, effective the same day. In Sydney, the healthcare sector suffered most losses following the announcement, with sector majors CSL and Telix Pharmaceuticals down nearly 3% each. Additionally, technology stocks extended losses, led by Wisetech (-2.8%) and Xero Limited (-1.5%), tracking a third straight day of declines in Wall Street tech shares amid rising yields. Meanwhile, heavyweight miners rose 0.8%, capping losses amid higher commodity prices. Over the week, the index is on track for its fourth weekly decline, partly due to trimmed expectations of RBA policy easing.