Trump's New Tariff Threats on China Raise Concerns in Asia

USA's president Donald Trump threatens with customs duties of "200 percent or something" against China if the country does not export rare earth metals to USA. The statement however gives no greater stock exchange effect. Several indexes in Asia decline, but in China also increases are seen.

» Published:

Trump's New Tariff Threats on China Raise Concerns in Asia
Photo: Eugene Hoshiko/AP/TT

Share this article

To the concern contributes that the president earlier during the Asian trading day, that is, at night Swedish time, also threatened to introduce additional export restrictions on advanced technology and said that he fires a Fed member.

The two Japanese indexes Nikkei and Topix had after lunch backed down nearly one percent.

Hong Kong's Hang Seng index fell more modestly 0.2 percent.

On the other hand, other Chinese indexes are rising, Shenzhen's composite index was after lunch at 0.6 percent plus, while the total in Shanghai has risen marginally 0.1 percent.

Trump's threat of tariffs came apparently spontaneously during a press conference at the White House.

They must give us magnets. If they do not do that we must take tariffs of 200 percent or something. But I do not think we get such problems, he said.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Ford Cuts 1,000 Jobs at Cologne Factory Amid Weak Electric Car Demand

Swedish Households Shift from Borrowing to Diverse Savings Strategies

Swedish Households Shift from Borrowing to Diverse Savings Strategies

German Investor Confidence Surges Unexpectedly in September

German Investor Confidence Surges Unexpectedly in September

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Norway Forecasts Limited Interest Rate Cuts Amid Economic Growth

Stockholm Stock Exchange Steady as H&M Leads Gains

Stockholm Stock Exchange Steady as H&M Leads Gains

Gold Buyer Guldbrev to List on Stockholm Stock Exchange Amid Criticism

Gold Buyer Guldbrev to List on Stockholm Stock Exchange Amid Criticism

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Financial Supervisory Authority Reviews SSAB's 33.3 Billion Kronor Write-Down

Weakening Dollar: Key Considerations for Investors

Weakening Dollar: Key Considerations for Investors

Asian Stock Markets Rise Following Trump's Trade Talks Update

Asian Stock Markets Rise Following Trump's Trade Talks Update

Fed Member Lisa Cook Retains Position Amid Trump's Legal Challenge

Fed Member Lisa Cook Retains Position Amid Trump's Legal Challenge

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Tesla Stock Surges 3.6 Percent Boosting Wall Street Indexes

Trump Proposes Ending Quarterly Reports for Wall Street Companies

Trump Proposes Ending Quarterly Reports for Wall Street Companies

EU Regulators Seek Stricter Crypto Supervision by ESMA

EU Regulators Seek Stricter Crypto Supervision by ESMA

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

Elon Musk Buys $1 Billion in Tesla Shares, Boosting Stock by 7%

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Agree on Tiktok Deal Framework

USA and China Agree on Tiktok Deal Framework

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Gaming Companies Lead Gains in Slightly Rising Stockholm Stock Market

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices