Wall Street’s overnight slump on Friday sent Asian markets tumbling as investors remained uncertain about US trade policies after President Donald Trump delayed imposing 25% tariffs on Mexican and Canadian goods.
The surprise move came just two days after the initial imposition of tariffs, which had already unsettled global markets. The delay has added to the volatility, leaving investors unsure about future trade relations and economic policies.
On Thursday, Trump announced a temporary exemption for goods imported from Canada and Mexico under the USMCA, delaying the implementation of a 25% tariff until April 2. This move sparked a broader sell-off, with Japan’s Nikkei 225 plunging 2.1%, Australia’s S&P/ASX 200 index falling 1.6%, and Hong Kong’s Hang Seng index edging 0.2% lower.
Data from China and India will be released next week, including February consumer price inflation data, while Japan’s revised fourth-quarter GDP is scheduled for release on Tuesday. Analysts predict a downward revision of the GDP growth rate to 0.5% quarter on quarter, seasonally adjusted.
Source: https://www.investing.com/news/stock-market-news/asia-stocks-fall-mirroring-wall-street-losses-trumps-tariff-delay-weighs-3914026