Asia-Pacific markets set for mixed open after Trump shifts goalposts on tariffs deadline again
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Diverging Reports Breakdown
Asia-Pacific markets mixed after Trump shifts goalposts on tariffs again
Japan’s benchmark Nikkei 225 slipped 0.53% while the Topix declined 0.57%. South Korea’s Kospi added 0.19% and the small-cap Kosdaq rose 0.16%. Australia’s S&P/ASX 200 slid 0.11%. Hong Kong’s Hang Seng index lost 0.61%, and mainland China’s CSI 300 dipped 0.12%.
Asia-Pacific markets traded mixed on Monday after U.S. President Donald Trump confirmed that “reciprocal” tariffs, first announced in April, will take effect on Aug. 1 for countries that haven’t struck a deal.
Treasury Secretary Scott Bessent said Sunday that tariffs introduced in April will be enforced starting August 1 for countries that haven’t finalized an agreement with the Trump administration. While Bessent dismissed the notion that August 1 represents a fresh deadline, he acknowledged that the new date could allow trading partners additional time to renegotiate tariff terms.
Japan’s benchmark Nikkei 225 slipped 0.53% while the Topix declined 0.57%. South Korea’s Kospi added 0.19% and the small-cap Kosdaq rose 0.16%.
Australia’s S&P/ASX 200 slid 0.11%.
Hong Kong’s Hang Seng index lost 0.61%, and mainland China’s CSI 300 dipped 0.12%.
The Reserve Bank of Australia kicks start its two-day meeting, where it is widely expected to cut rates by 25 basis points to 3.60%.