Trump's high tariffs let Asian stock markets break in
Trump's high tariffs let Asian stock markets break in
The stock markets in the Asia-Pacific region experienced a drastic decline on Thursday after US President Donald Trump in a surprising step Zölle imposed on trading partners worldwide. Many Asian countries in particular met these measures.
economic effects of the new tariffs
The comprehensive tariffs have increased the taxes on Chinese imports, which according to Mexico represent the second largest source of US imports, from 20% to 54%. Japan also has to expect an inch of 24%, while South Korea is loaded with 25% - both countries are important trading partners and allies of the USA. Taiwan, an important exporter and manufacturer of electronics, sees itself faced with an inch of 32%.
reactions to market development
The news of the tariffs let the US stock markets in the post-excessive trade on Wednesday Asian markets fell strongly shortly after the opening on Thursday. The Japanese Nikkei 225 Index fell by over 4% and closed with a minus of 2.8%. The South Korean Kospi Index recorded a decline of 2.7% and closed less than 1% lower. The significant slope Seng Index in Hong Kong fell by 2.4%. In Australia, which is loaded with a 10%customs, the ASX 200 Index fell by 1.8%. The markets in Taiwan were closed on Thursday.
particularly affected industries
shares of large technology and automotive companies in the region were among those affected the most affected. The Japanese technology giant Sony fell by more than 5.4%in the morning. The automobile manufacturers Toyota and Honda reported declines of almost 5% and over 4%. The South Korean technology group Samsung and the Hyundai automotive giant also recorded declines of over 3% after the opening.
gold as a safe harbor
Meanwhile, the gold price rose to a record high of over $ 3,160 per ounce, since investors increasingly turned to the valuable metal, which is traditionally considered a safe port in view of the market turbulence.
Trump and the trade war with China
The commitments in the rose garden led to a further escalation of Trumps Commercial war and opened new fronts worldwide. The president has repeatedly emphasized that these measures will boost domestic production and, in his opinion, address unfair trade practices.
Before Wednesday, the US stock market had already recorded the In a year since 2022. Trump's unpredictable attitude towards the amount and scope of the tariffs unsettled investors and confused the global markets.
reactions from Asia
china reacted to the US measures on Thursday and described them as “typically unilateral and bully's behavior” and promised to “take countermeasures to take their own rights and interests.” A spokesman for the Ministry of Commerce explained in a statement that China asks the United States to dismantle the one -sided tariffs immediately and to relieve differences in equal dialogue.
The Japanese chief cabinet secretary Yoshimasa Hayashi described the new tariffs as “extremely regrettable” and expressed that they could have a “significant impact on the economic relationship between the USA and Japan”. The Japanese government will take “all the necessary measures” to ensure that Japan is not subject to such tariffs.
South Korea's reigning President Han Duck-Soo asked the government to “mobilize all capacities to overcome the trade crisis.” The South Korean automotive industry, led by Hyundai, will also be affected by the Automobilzölle, while a separate custom of 25% of 25% on steel products that Trump was imposed last month will put great pressure on the country's steel industry, since South Korea is the fourth largest steel exporter to the USA
The government of Taiwans described the tariffs raised by Trump as “extremely inappropriate” and “unfair” and promised to submit “serious statements” to the USA. While the key industry was spared Taiwan - the important semiconductor industry that exports the most advanced computer chips in the world - Taiwan explained that the calculation of the customs was “no scientific basis”.
Reporting by CNNS Simone McCarthy, Lex Harvey and Eric Cheung.
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