Asian-Pacific markets were traded on Monday after US President Donald Trump confirmed that “reciprocal” tariffs would be announced in April for the first time, to take effect 1. August for countries that did not reach a deal.
Trump added in a separate announcement on Sunday that an additional 10% of the tariff will be charged to countries “that agree with the Brics’s anti-American policy”, without listing details. His announcement came until the block of countries in Brics gather in Rio de Janeir in Brazil on a two-day summit.
Earlier Sunday, Finance Minister Scott Bessent said that the tariffs were introduced in April from 1. August for countries that did not finalize the Trump Administration Agreement. While Bessent rejected the idea of 1. Augusta is a new deadline, he admitted that the new date could provide additional time to re-negotiate Tariff Terms.
The Japanese Nikkei 225 reference index fell by 0.53%, while Topix fell by 0.57%. South Korean Kospi added 0.19%, and the shares of small market capitalization Kosdaq increased by 0.16%, transmits SEEbiz.
Australian S & P / ASX 200 fell by 0.11%.
Hong Kong Index Hang Seng lost 0.61%, and Chinese CSI 300 fell by 0.12%.
The Australian Reserve Bank begins its two-day meeting, where the interest rates for 25 base points will be reduced to 3.60%.
