Asian markets rebounded on Monday after US President Donald Trump announced a 90-day pause on most tariffs on Chinese goods, following a meeting with Chinese President Xi Jinping at the G20 summit in Argentina.
The decision to hold off on further tariffs provided some relief to investors, who had been concerned about the escalating trade tensions between the world’s two largest economies.
However, Trump also announced that the US would maintain a 125% tariff on $200 billion worth of Chinese goods, which could still have a significant impact on the global economy.
Despite this, Asian markets responded positively to the news, with major indexes in Japan, South Korea, and Hong Kong all posting gains on Monday.
Investors will be closely watching the outcome of further negotiations between the US and China over the next 90 days, as any signs of progress could help to ease concerns about the impact of tariffs on global trade.
These images show the Nikkei Stock Average numbers on electronic boards at the Tokyo Stock Exchange, with people walking past and looking at the numbers. The Nikkei 225 index in Japan surged almost 9% during opening trade, along with other Asian markets making a recovery. This news comes after Trump announced a 90-day pause on tariffs while also increasing duties on China to 125%. Additionally, Japan is demanding the US to review other tariffs, the Yuan has fallen to its weakest in almost two decades, and Ray Dalio is calling for a US trade deal with China.
Asian markets rebounded on Monday after US President Donald Trump announced a 90-day pause on most tariffs on Chinese goods, following a meeting with Chinese President Xi Jinping at the G20 summit in Argentina.
The decision to hold off on further tariffs provided some relief to investors, who had been concerned about the escalating trade tensions between the world’s two largest economies.
However, Trump also announced that the US would maintain a 125% tariff on $200 billion worth of Chinese goods, which could still have a significant impact on the global economy.
Despite this, Asian markets responded positively to the news, with major indexes in Japan, South Korea, and Hong Kong all posting gains on Monday.
Investors will be closely watching the outcome of further negotiations between the US and China over the next 90 days, as any signs of progress could help to ease concerns about the impact of tariffs on global trade.
https://www.independent.co.uk/news/business/tariffs-live-trump-90-day-pause-china-ftse-uk-markets-b2730660.html
