Trump tariffs latest: Asian stock markets tumble at start of US president’s ‘Liberation Day’

Asian stocks stuttered on Wednesday morning as a nervous world awaited details of US president Donald Trump 's tariff plans, which investors fear could intensify the global trade war . The White House confirmed on Tuesday that Mr Trump will impose new tariffs , though it provided no details about the size and scope of trade barriers. The president has, for weeks, trumpeted 2 April as a "Liberation Day" that will see dramatic new duties that could upend the global trade system.

Japan 's Nikkei slipped 0.3 per cent and South Korea's benchmark index was 0.57 pr cent lower.



The Hang Seng Index in Hong Kong dropped 0.8 per cent. In mainland China, the CSI 300 Index declined 0.

1 per cent. White House spokesperson Karoline Leavitt said reciprocal tariffs on countries that impose duties on US goods would take effect immediately after Trump announces them, while a 25 per cent tariff on auto imports will take effect on 3 April. Mr Trump has already imposed tariffs on aluminium, steel, and autos, along with increased duties on all goods from China that have rattled markets amid fears that a full-blown trade war could trigger a sharp global economic slowdown.

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