Sunset scene of Yara River and Melbourne skyscraper’s business office building with evening horizons in Victoria, Australia. Australia Tourism, Modern City Life, or Trade Finance and Economy Concept
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After US President Donald Trump imposed heavy mutual tariffs in more than 180 countries and regions, the Asia -Prashant markets are ready to take a dip on Thursday – many of which are in the region.
In the chart posted on social media, the White House showed effective tariff rates that they claim that other countries put on US goods, including “currency manipulation and business obstacles.”
The White House on Wednesday told CNBC’s Eamon Javers that the new mutual rate on China will be paired with 20%in the current tariff, which means the correct tariff rate on Beijing under this trump period is 54%.
Meanwhile, goods from India, South Korea and Australia face tariffs of 26%, 25%and 10%respectively.
Of Australia S&P/ASX 200 It was 1.55%below.
Japan’s benchmark Nikkei was below 225 3.02%, loss of more than 4%in the open, while the broad topics index was 3.19%below, which also increased the loss of more than 4%.
In South Korea, the Kospi index fell 1.57%, the open was more than 3%damage, while the small-cap was below the Kosadack. 55%.
The futures for Hong Kong’s Hang Seng index were at 23,094, pointing to a weak open compared to HSI’s closure of 23,202.53 on Wednesday.
Gold prices remained a record high and were trading at $ 3,156.75 an ounce during Singapore’s time at 7.28 am, as investors used to come in precious metal.
The US futures crates Trump as Sweeping Tariff of at least 10% and also for some countries, raising the risks of a global trade war that would adversely affect the already slow American economy.
Operates, Stocks have so far climbed into another unstable season.
S&P 500 upgraded 0.67% to close at 5,670.97, while NASDAQ Composite added 0.87% and ended at 17,601.05.
30-Stock Dove Jones Industrial Average added 235.36 points or 0.56%, and settled at 42,225.32.
Tesla’s shares climbed 5.3%, rising on the news that President Trump has indicated to his cabinet that Elon Musk will step back
– Brian Evans and Scene Konalone of CNBC contributed to this report.
