Trade Tensions Shake Asian Markets Amid U.S.-China Disputes
Asian markets slipped as U.S.-China trade tensions escalated, with potential tariff increases impacting steel exports. Investors await U.S. jobs data and EU interest rate cuts. The U.S.-China dispute over critical minerals remains unresolved, adding uncertainty to financial and trade policy outlooks. Commodity markets saw fluctuations in response.
The Asian financial markets experienced a downturn as trade tensions between the United States and China intensified, affecting investor sentiment. Steelmakers in South Korea and Vietnam, significant exporters to the U.S., saw stock declines following President Trump's threat to increase tariffs on imported steel and aluminium.
The dispute heightened as Beijing rejected Trump's trade criticism, while discussions between Treasury Secretary Scott Bessent and Chinese President Xi Jinping stagnated. European Union negotiators expressed disapproval of the proposed tariff hikes, signaling potential tensions in international trade relations.
This week, the focus shifts to U.S. jobs data and manufacturing figures, with the potential to impact Federal Reserve policy decisions. While market volatility continues, commodities saw mixed movements, with gold firming and oil prices rising after OPEC+ announced increased output. Analysts anticipate continued fluctuations influenced by global economic policy uncertainties.
(With inputs from agencies.)
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