Asian Markets Slip Following Trump’s Major Tariff Hikes

Asian markets and U.S. futures tumbled on Thursday following President Donald Trump’s announcement of sharp tariff increases on imports worldwide.

The Kospi index in South Korea dropped 1.9% shortly after opening, settling at 2,459.30. I Photo: [출처표시] bada.kbs.co.kr

Tokyo’s Nikkei 225 index fell more than 3.4% before recovering slightly, closing 2.9% lower at 34,699.52, Associated Press (AP) journalist Elaine Kurtenbach reported. Trump announced a 24% “reciprocal tariff” on Japan, one of the United States' closest allies, while South Korea faced a 25% tariff.

The Kospi index in South Korea dropped 1.9% shortly after opening, settling at 2,459.30. Meanwhile, Australia’s S&P/ASX 200 fell 1.8% to 7,793.10.

The futures market also reacted negatively, with the S&P 500 dropping 3% and the Dow Jones Industrial Average falling 2%, signaling potential losses when U.S. markets reopen on Thursday.