Asia, Rubio and Trump
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Trump, tariff
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By Rae Wee SINGAPORE (Reuters) -Asian stocks rose slightly on Thursday, riding on optimism from Nvidia's brief rise to a world-record $4 trillion valuation and as investors largely shrugged off U.S. President Donald Trump's latest tariff salvos.
Asia’s export-dependent economies received more time but little reprieve, as US President Donald Trump shifted his tariff deadline to Aug. 1 and rounded the rates he’s set for Japan, South Korea and others.
20hon MSN
The new tariff rates threatened in the letters Trump shared Wednesday are similar to those he announced on what the White House dubbed “Liberation Day” in early April.
The Indian rupee is poised to open weaker on Wednesday, pressured by a renewed tariff barrage from U.S. President Donald Trump that widened the scope of his trade offensive. The 1-month non-deliverable forward indicated an open in the 85.
Chinese state media warned the Trump administration against striking deals that sideline China, after the president announced that Asian countries would face higher tariffs starting on Aug. 1.
President Donald Trump ’s latest executive order delaying official tariff increases on dozens of countries until Aug. 1 has relieved some pressure on world markets, but he also ordered a 25% tax on goods imported from Japan and South Korea,
U.S. Secretary of State Marco Rubio will meet with Southeast Asian counterparts on Thursday in his first visit to Asia since taking office, and will try to reassure them the region is a priority for Washington,
Many countries thought they were negotiating in good faith. The White House renewed its “reciprocal” tariff plan anyway, giving countries until Aug. 1 to make offers.
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