Asian shares stumble on threats of new US tariffs
Equities fall amid reports that Washington is about to announce yet more tariffs on Chinese imports, setting the stage for Beijing to retaliate
Sydney — Most Asian share markets slipped on Monday amid reports Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing. Liquidity was thin with Japan on holiday and moves in currencies and bonds were minor. Hong Kong markets opened as normal after a super typhoon brushed the city on its way to landfall in China’s Guangdong, the country’s most populous province. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 1%, snapping three consecutive sessions of gains. Shanghai blue chips fell 0.8%, while the Hang Seng shed 0.9%. E-mini futures for the S&P 500 were off 0.2%. US President Donald Trump is likely to announce new tariffs on about $200bn on Chinese imports as early as Monday, a senior administration official told Reuters. The tariff level will probably be about 10%, the Wall Street Journal reported, below the 25% the administration had said it was considering. The journal also reported Beiji...
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.