Trump declared a base import duty of 10%, with far larger tariffs imposed on specific trading partners, especially those in Asia. In addition to China’s 34% tax, South Korea received a 25% duty, Vietnam 46%, and Japan 24%. The 20% charge was imposed on the European Union.
Following US President Donald Trump’s announcement of retaliatory tariffs on more than 180 nations, Asian markets fell on Thursday. Outside of Japan, MSCI’s broadest index of Asia-Pacific stocks experienced a more than 1% decline.
With the Nikkei share average plunging to an eight-month low, Japanese markets led Asia’s losses. For the first time since August 7, the Nikkei dropped as much as 4.6% in early trading, reaching 34,102.00. The benchmark index was down 3% after recovering some of its losses.
After plunging as much as 4.3%, the overall Topix index recovered little to trade down 3.1%.
Among stocks, the prices of Advantest, Tokyo Electron, and Toyota Motor fell 4.9%, 5.8%, and 4.9%, respectively.
The Shanghai Composite Index was down 0.1% and the CSI300 blue-chip index was down 0.24% as Chinese markets got off to a poor start.
In the meantime, the Kosdaq fell 0.55% and the South Korean Kospi index fell 1.57% among other Asian markets. The Hang Seng index in Hong Kong fell 2%.
Trump Tariffs
Trump declared a base import duty of 10%, with far larger tariffs imposed on specific trading partners, especially those in Asia. In addition to China’s 34% tax, South Korea received a 25% duty, Vietnam 46%, and Japan 24%. The 20% charge was imposed on the European Union.
Indian Stock Market
Following US President Donald Trump’s announcement of reciprocal tariffs, the key Indian stock market indices, the Sensex and Nifty 50, are also anticipated to open lower on Thursday, following a sell-off in the global market. A gap-down beginning for the Indian benchmark index is also suggested by the trends on Gift Nifty.
The drop in Asian stocks and currency markets is also expected to cause the Indian rupee to weaken at open.
