Tariff Turbulence: Global Markets Brace for Impact

The global market landscape is reeling as President Donald Trump's tariffs remain a focal point of uncertainty. In a week marked by courtroom upheavals, an appeals court reinstated tariffs initially blocked by the United States Court of International Trade, leaving investors on edge.

Japan's Nikkei and Hong Kong's Hang Seng indices both faced significant setbacks in Asian markets, driven by a surge in demand for the yen, impacting export-heavy stocks. Despite the instability, the Trump administration assures ongoing, sincere negotiations with trade partners, including high-level discussions with Japan.

However, tangible outcomes are sparse, with only a broad agreement with Britain secured so far. Talks with China are stalled, possibly needing direct intervention from Trump and Xi Jinping. As tariff revenues climb, there are anxieties about U.S. fiscal sustainability amid Trump's upcoming tax cuts and spending initiative.

(With inputs from agencies.)