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

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

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.

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.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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