Asian Markets Decline Following New US Tariff Announcements

By Trendy Daily News

Asian markets experienced significant declines on Monday following changes in US trade policy announced by President Donald Trump.

Japan’s benchmark Nikkei decreased by 8% after opening. The share average, which tracks 225 of the country’s most valuable companies, moved below the 33,000 level for the first time since August 2024, according to Reuters. The broader Topix index traded 7.5% lower from its previous close.

Japanese Prime Minister Shigeru Ishiba stated on Monday that the government will continue discussions with President Trump regarding tariff reductions, noting that changes “won’t come overnight,” according to Reuters.

“As such, the government must take all available means” to address the economic effects of US tariffs, including funding support for domestic firms and measures to maintain employment, Ishiba told parliament. President Trump implemented a 24% tariff on Japanese imports, scheduled to take effect later this week.

Asian markets’ movement follows a significant two-day decline in Wall Street stocks, the largest in five years. US stock futures indicated further decreases Sunday evening after two sessions that reduced market value by $5.4 trillion.

Markets responded to President Trump’s new tariff policies, some of which became effective Saturday morning, with additional measures scheduled for Wednesday. China announced corresponding measures on Friday, implementing a 34% tariff on US imports, indicating an escalation in trade restrictions between the two nations.

During comments aboard Air Force One on Sunday evening, President Trump addressed market conditions: “What’s going to happen with the market? I can’t tell you,” Trump said. “But I can tell you, our country has gotten a lot stronger, and eventually it’ll be a country like no other.”

US stocks are expected to open lower Monday, with the S&P 500 approaching a 20% decline from its peak, a threshold traditionally significant to investors and economic analysts.

South Korea’s Kospi decreased 4.8% after opening. Trading paused for five minutes when protective measures designed to moderate rapid selling activated.

Taiwan’s Taiex decreased 9.7% after opening. Trading limits were reached for TSMC and Foxconn, two major exporters, as their shares each declined by approximately 10%, according to Reuters.

In Australia, the benchmark ASX 200 index decreased 6.3% in morning trade, while New Zealand’s NZX 50 declined 3.5%.

This is a developing story and will be updated.