Most Markets Rise As Trump Sends Tariff Letters, Delays Deadline
Hong Kong: Most of the stock rose on Tuesday, as traders carefully welcomed Donald Trump’s extending tariff deadline and the uncertainty on the US trade policy could further further pushes profitable gains.
Days before the three -month pause to end the “Day of Independence” tariffs, the US President said that he would give governments extra three weeks to make agreements to avoid paying high -sky taxes for export to the world’s largest economy.
This came to more than a dozen countries, including the best trade partners, Japan and South Korea.
Investors temporarily welcomed the delay in the hope of reaching agreements with Washington, and some observers saw the President’s latest movement as a negotiation tactic.
The letters said that Tokyo and Seoul will be hit with 25 percent tariffs, while Indonesia, Bangladesh, Thailand, South Africa and Malaysia ranged from 25 to 40 percent.
When asked whether the new deadline will be placed on the stone, the president said: “I can say the company, but not 100 percent company.”
And he asked if the letters had a last offer, “I can say the final – but if they call with a different offer and I like it, then we’ll do it.”
While the Wall Street’s three main indexes ended – S&P 500 and Nasdaq have returned from record levels – Asian markets often rose.
Tokyo and Seoul progressed, Hong Kong, Shanghai and Singapore had gains. Sydney, Wellington and Taipei fell. Manila and Jakarta were flat.
The White House claimed that there were many agreements on the pipeline for weeks, and Treasury Secretary Scott Bessent was on Monday.
However, only two of Vietnam and England have been finalized so far, and China has reached a framework to reduce the eye irrigation Levies.
Wendy Cutler, Vice President of the Asian Association Politics Institute, said that taxes in Japan and South Korea will “send a creepy message to others.”
“Both have been close partners on economic security issues.”
Japanese Prime Minister Shigeru Ishiba said on Sunday, “he will not compromise easily,” he said.
The National Australian Bank Tapas Strickland said there is too much uncertainty among investors.
“If the agreement with Vietnam is something to go on, then countries … The US has a trade deficit to get a 20 percent tariff and these … The US has a 10 percent tariff and a trade surplus.”
“This may mean that the final tariff rates are higher than the current consensus, which is 10 percent in the board tariff with a higher tariff in China.
“Without further clarity, markets, especially Trump’s first liberation day tariffs in response to the market reaction to the rapid reversal, considering the rapid reversal of these different scenarios will be forced to price.”
Key numbers around 0230 GMT
Tokyo – Nikkei 225: 0.3 percent in 39.711.29 (break)
Hong Kong – Hang Seng Index: 0.5 percent increase in 23.996.70
ŞANGAY – Composite: 0.2 percent increase in 3.479.65
Euro/Dollar: Rise from $ 1.1710 on Monday from $ 1.1745
Pound/Dollar: Rose from $ 1,3602 to $ 1,3634
Dollar/yen: 146.13 Yen 146.10 Yen
Euro/Pound: 86.09 PEN 86.15 Pence
West Texas Intermediate: 0.7 percent decrease from $ 67.45 per barrel
Brent North Sea Raw: 69,16 $ 0.6 % drop per barrel
New York – Dow: 0.9 percent decrease in 44.406.36 (closing)
London – FTSE 100: 0.2 percent decrease in 8.806.53 (close)
