Stocks Stagnate Amid Trump's Global Tariff Escalation
Investors remain cautious as President Trump expands his trade war, imposing a 50% tariff on imported copper and threatening levies on semiconductors and pharmaceuticals. While markets have shown some resilience, hopes for imminent trade deals keep the situation in flux. Asian stocks rose, buoyed by potential negotiations.
Major stock indexes held steady on Tuesday as investors processed President Donald Trump's ongoing tariff measures. With target imports broadened to include a 50% tariff on copper, potential levies on semiconductors and pharmaceuticals loom.
The stock market reactions mirrored a restrained response compared to April's sweeping announcements, which hinted countries might seek trade negotiations before further measures take effect on August 1. Concurrently, European stocks remained firm amid expectations of a trade deal by Wednesday.
Japan's Nikkei recovered from early losses while the MSCI Asia-Pacific index rose 0.5%. With economic stakes high, particularly for Southeast Asia, intensified U.S. tariffs remain a central concern as geopolitical tensions persist.
(With inputs from agencies.)
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