Southeast Asian stocks and currencies fell after Asian emerging nations were given some of the biggest tariff increases by US President Donald Trump. Vietnamese shares tumbled.
Copper, aluminum and zinc all slumped as metals joined a rush from risk on fears that President Donald Trump’s sweeping new tariffs will end up crushing demand for industrial commodities.
Asian economies bore the brunt of US President Donald Trump’s tariff deluge, with their currencies and stocks coming under selling pressure, according to strategists.
European stocks were set to drop after US President Donald Trump unveiled his plans for new tariffs on US trading partners worldwide, including a rate of 20% for the European Union.
South Korea’s interim leadership was thrown into emergency mode to protect the export-reliant economy from a trade crisis after the Trump administration announced one of the worst tariff rates to hit a US security ally.
Stablecoin advocates achieved another legislative victory on Wednesday night, adding fresh momentum to one of the few issues with bipartisan accord in a deeply divided Washington.
Thailand is prepared to deal with the fallout of the 36% reciprocal tariff imposed by the Trump administration, Prime Minister Paetongtarn Shinawatra said, adding the Southeast Asian nation is seeking talks with the US to lower the levy.
US stock futures plunged after President Donald Trump outlined a slate of tariffs on US trading that raises the likelihood of a full-blown trade war that could plunge the US economy into a recession.
Japan’s Trade Minister said the Trump administration’s latest tariff broadside is extremely regrettable and pushed for an exemption, hours after the US announced new levies on Japan that were higher than expected.
Oil fell after US President Donald Trump rolled out stiff tariffs on major trading partners, including China and the European Union, that spared energy but ratcheted up a trade war that threatens global demand.
President Donald Trump’s administration calculated its raft of new tariffs primarily based on existing trade balances — a departure from pledges to match the tariff rates and other trade barriers from other countries.
In justifying new tariffs customized to punish US trading partners for practices he sees as putting US manufacturers at a disadvantage, President Donald Trump has focused particular ire on value-added taxes. VATs are used by most countries but not by the US.
President Donald Trump slapped India with some of the highest tariff rates imposed on any major US trading partner, saying his good personal ties with Prime Minister Narendra Modi did not affect his decision.
Gold climbed to a record after President Donald Trump unveiled his sweeping “reciprocal” tariffs, imposing a minimum levy of 10% on imports and stoking fears his agenda may trigger a global economic slowdown.
- Bloomberg Markets - Jennifer A Dlouhy, Catherine Lucey, Josh Wingrove, Skylar Woodhouse
President Donald Trump imposed the steepest American tariffs in a century, stepping up his campaign to reshape the global economy and unnerving investors who see a trade war as a risk to US growth.
Global financial markets were hit by a sweeping selloff after President Donald Trump’s bid to remake the world trading order proved more aggressive than expected.
