US Launches ‘TrumpRx’ for Discounted Drugs

The Trump administration has unveiled TrumpRx, a new federal website that will let Americans buy prescription drugs directly from manufacturers at discounted prices — without going through insurance.

Developed in partnership with major pharmaceutical companies, such as Pfizer, the platform targets uninsured consumers and aims to bypass pharmacy middlemen. Set to launch in early 2026, TrumpRx marks a significant policy move to address high drug costs, although details on pricing and oversight are still being finalized.

1️⃣ First Mover: Pfizer became the first pharmaceutical company to strike a deal after President Trump sent letters to 17 drugmakers this summer, giving them 60 days to cut prices — a deadline that expired this week.

💊 Discounted Drugs: According to reports, Pfizer prices for select medicines on the TrumpRx site will be cut by up to 85%, offering steep direct-to-consumer discounts. Pfizer will also reduce drug prices for Medicaid to avoid a new 100% tariff on branded drug imports set to take effect on October 1.

How will it work? Medicaid beneficiaries will also be able to use the TrumpRx site, where consumers can search for needed medications and purchase them directly from manufacturers. Prices will be offered at steep discounts, closer to the “most favoured nation” rates.

China, Zambia, and Tanzania have signed a $1.4 billion agreement to rehabilitate the Tanzania–Zambia Railway (TAZARA), a crucial transport corridor for copper exports from southern Africa. The deal, announced by Zambia’s government on Monday, covers railway refurbishment as well as the purchase of locomotives, passenger coaches, and wagons.

What is TAZARA? The Tanzania–Zambia Railway Authority operates the 1,860 km (1,156-mile) railway, which links Zambia’s Copperbelt to the Tanzanian port of Dar es Salaam. Built in the 1970s with Chinese support, it provides a vital export route for copper and cobalt to the Indian Ocean. The line serves as a key strategic alternative to congested southern routes.

Why is this important? TAZARA’s revival is expected to help bypass congestion and logistics bottlenecks in South Africa, which have hampered regional mineral exports. The investment signals Beijing’s continued strategic focus on African infrastructure, particularly along critical resource supply chains.

What does this mean for the U.S.? For the U.S., the TAZARA upgrade holds strategic importance as it strengthens China’s grip on key African mineral export routes, particularly for copper and cobalt. It also directly challenges the U.S.-backed Lobito Corridor, which Washington is positioning as a rival supply chain pathway.

China has introduced new maritime transport rules that authorize retaliatory measures against countries imposing discriminatory restrictions on Chinese ships, just weeks before the U.S. enforces a new port fee targeting vessels built or operated by China.

The revised regulations, approved by Premier Li Qiang and effective immediately, allow Beijing to levy special fees, restrict or prohibit port access, and limit foreign entities’ access to China-related maritime data. These measures are designed to counter bans or restrictions on Chinese operators, vessels, or crews.

The move comes in response to the U.S. Trade Representative’s Section 301 investigation into China’s maritime practices.

Applied Materials, the largest U.S. semiconductor equipment maker, said it expects a $600 million revenue loss in fiscal 2026 after Washington broadened restrictions on chip-related exports to China.

The U.S. Commerce Department’s new rule extends licensing requirements to a wider set of companies and subsidiaries, complicating sales of advanced machinery. The company also warned of a $110 million impact in its current quarter, sending its stock down nearly 3% in after-hours trading.

The measures add to existing pressure on chipmakers, with demand in China already slowing and tariffs weighing on margins. Still, Applied Materials reported 8% revenue growth in Q3 to $7.3 billion, exceeding Wall Street estimates, and $27.18 billion in sales for fiscal 2024, a 2.5% year-over-year increase.

Cocoa futures fell to their lowest level in 11 months in New York as top producers Ghana and the Ivory Coast raised the prices paid to farmers, a move expected to spur more bean sales and boost supply.

Ghana announced its second farm-gate price increase this season, while the Ivory Coast lifted prices to 2,800 CFA francs per kilogram for the 2025–26 main crop starting October 1. Higher payments are expected to encourage growers to sell more beans for processing and export, easing recent supply tightness. New York cocoa futures dropped as much as 3.8%, while London futures fell 4.1%.

The pullback comes even as West African production remains below peak levels, constrained by crop diseases. Analysts, however, expect output growth from South American producers, including Ecuador, Brazil, Peru, and Colombia.

Global seaborne crude oil exports rose sharply in September to 42 million barrels per day, a 2.1 million barrels per day increase from August levels, according to Bloomberg’s tanker-tracking data. The surge was led by Saudi Arabia, Russia, and the U.S., which together accounted for almost 75% of the increase. Exports from eight key OPEC+ producers increased by 1.19 million barrels per day (bpd) as the bloc continued to unwind earlier production cuts.

Saudi Arabia contributed a 600,000 bpd increase, helped by reduced domestic power demand after summer, while U.S. Gulf shipments rose 680,000 bpd to 4.23 million bpd.

Exports to the U.S. fell by 355,000 bpd, mainly from Iraq, Saudi Arabia, and Brazil. The surge in global supply comes ahead of an OPEC+ policy meeting on Sunday, where further production decisions are expected.

The European Commission will reduce steel import quotas by nearly half and increase tariffs on volumes exceeding the new limits to 50%, aligning EU trade measures with those of the U.S. and Canada, according to a Reuters report.

The proposal, part of a new steel sector package due to be released on October 7, aims to counter global oversupply and protect European producers. Current safeguards on steel imports are set to expire in mid-2026, as per WTO rules. Steel groups have pushed for the move, noting that existing quotas are 26% above original levels, while demand has weakened.

The tighter import rule is also intended to help Brussels secure a deal with Washington to replace U.S. tariffs with a quota system, as outlined in a July U.S.–EU agreement.

The U.S. Commerce Department has launched a Section 232 investigation into imports of robotics and industrial machinery. This move, which could lead to new tariffs, has sparked pushback from manufacturing groups.

The probe will examine the national security implications of importing technologies, including CNC machines, laser-cutting tools, and metalworking equipment.

Industry leaders, including National Association of Manufacturers (NAM) CEO Jay Timmons, warned that additional duties would “significantly increase costs” on essential factory equipment and “stall investment” in U.S. plants. More than half of U.S. imports are manufacturing inputs, and domestic production can only meet 84% of these needs, Timmons said in his statement.

Asia’s factory activity showed mixed momentum in September, as the impact of U.S. tariffs rippled through global supply chains, according to S&P Global’s latest PMI data.

While overall output increased across the region at the end of Q3, major exporters such as Japan and Taiwan reported weakening demand and declining orders. Taiwanese manufacturers saw steeper drops in output and new orders, citing muted global demand and client caution due to tariffs. In Japan, business sentiment reached a five-month low, with producers reporting weaker demand from key markets, including China.

In contrast, South Korea’s PMI climbed above 50, signaling expansion for the first time in six months, as export orders picked up from Asian markets. China’s factory activity also remained in expansion, with both production and demand improving and new export orders rising for the first time since March.

Global air cargo volumes grew for the sixth consecutive month in August, but at a slower pace than in July, according to data from the International Air Transport Association (IATA).

Total cargo tonne-kilometers (CTKs) rose 4.1% year-on-year, compared to 5.5% growth the previous month, while international CTKs increased 5.1%. Seasonally adjusted growth was 3.9%, down from 5% in July. IATA attributed the continued expansion to a shift from sea to air freight for high-value goods as shippers navigate tariff uncertainty, with stronger growth on Europe–Asia, intra-Asia, Africa–Asia, and Middle East–Asia routes.

However, Asia–North America air cargo demand declined 2.2% year-on-year, the sharpest drop among major trade lanes, marking the fourth straight monthly decline. While July and August saw more minor dips than earlier in the summer, the lane remains under pressure from heavy U.S. tariffs on Chinese and Indian goods.

Yemen’s Houthi movement said it will impose sanctions on 13 U.S. oil companies, including ExxonMobil, Chevron, and ConocoPhillips, in response to U.S. sanctions issued earlier this year. The announcement came from the Humanitarian Operations Coordination Center (HOCC), a Houthi-affiliated body responsible for managing interactions with commercial shipping.

The move follows a truce deal with the Trump administration, in which the Houthis pledged to halt attacks on U.S.-affiliated ships operating in the Red Sea and Gulf of Aden.

Analysts say it is unclear whether the sanctions will lead to direct targeting of vessels, which could risk violating the ceasefire.

The Trump administration has tightened export controls to prevent Chinese companies from evading restrictions, closing a major loophole that allowed subsidiaries of blacklisted firms to continue receiving U.S. technology.

Under the new Commerce Department rule, any company that is 50% or more owned by a group on the U.S. Entity List will automatically be subject to the same export restrictions, eliminating the need for separate blacklisting. The rule targets subsidiaries of major Chinese chipmakers such as Huawei and SMIC, and is intended to block “diversionary schemes” used to circumvent controls.

Experts described the measure as a significant shift in U.S. export control policy, with thousands of Chinese state-owned and private subsidiaries likely affected.