Shanghai — Asian shares fell on Thursday after the US government launched a national security probe into vehicle imports that could lead to new tariffs, and President Donald Trump’s comments indicated fresh setbacks in US-China trade talks. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1% higher, but Japan’s Nikkei stock index fell 1.2% as car makers’ shares slumped. South Korea’s Kospi lost 0.3%. A broad MSCI index of vehicle and automotive components firms was down 0.9%. Tokyo’s SE Topix transport equipment index was 2.6% lower. The US Commerce Department said on Wednesday that it would launch a national security investigation into car and truck imports under Section 232 of the Trade Expansion Act of 1962, a move that could lead to tariffs like those imposed on steel and aluminium in March. Adding to market jitters, Trump called on Wednesday for "a different structure" in any trade deal with China, fuelling uncertainty over the negotiations. On Thursday, China’s...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.