Overview

• President Trump unveiled a 10% baseline tariff on all imports, with additional tariffs of 24% on Japan, 25% on South Korea, and up to 34% on China.
• Asian stock markets responded sharply, with Japan's Nikkei 225 dropping 2.9% and South Korea's Kospi falling 1.9%.
• U.S. futures also declined, with the S&P 500 and Dow Jones futures falling by 3% and 2%, respectively.
• Oil prices and Treasury yields fluctuated significantly, reflecting heightened economic uncertainty.
• The tariffs aim to address trade imbalances and boost U.S. manufacturing but risk slowing global economic growth and worsening inflation.