Asia-Pacific share markets opened cautiously following US President Donald Trump’s announcement to double steel tariffs to 50%. This move sparked uncertainty and mixed reactions across the region. Japan’s Nikkei index fell by 1.1%, while South Korean stocks dipped slightly by 0.1%, reflecting investor concerns over potential trade disruptions.
The tariff hike comes amid ongoing global trade tensions and has already caused market jitters in major economies. China, Malaysia, and New Zealand markets remained closed for holidays, contributing to subdued trading activity. The announcement comes just as Asian markets were navigating mixed economic indicators and geopolitical developments.
In response, financial experts warn that increased tariffs could escalate trade conflicts, affecting:
- Supply chains
- Economic growth in Asia
Analysts also pointed out the timing as critical, given recent:
- De-dollarization efforts within ASEAN countries
- Ongoing security dialogues in the region
The tariff news has added to volatility, compelling investors to adopt cautious strategies. This development is part of broader international trade dynamics, as regional governments and businesses assess impacts on:
- Exports
- Manufacturing
- Investment
Stay tuned to Questiqa World News for more latest updates.
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