As a region that manufactures so many of the goods sold globally, Asian countries and territories are being hit directly by the tariffs.
They are also particularly sensitive to the impact of fears that a global trade war could trigger a slowdown or even a recession in the world’s biggest economy.
Japan’s Nikkei 225 benchmark index closed down by 7.8% and ASX 200 in Australia lost 4.2%.
In afternoon trading, the Kospi in South Korea was 4.7% lower.
I’m very curious to see if the counter tariffs from China will lead to a complete escalation or if the orange clown will cry about it and back off. I hope it’s the second but I fear the worst, I think a total crash out is in the cards.
He’s tried this here in Canada for months and he’s backed down literally every announcement. It’s whiplash but past behaviour tells me this won’t stick, either.
Looking like complete escalation since china won’t bend the knee to him
Well if he does go through with that then I think the Americans will be way more hurt by it then China will be. China can keep trading with the rest of the world and I think their people are more resilient. If Karen from Missouri can’t get her cheap Teemu and Shein shit she’s gonna blow.