“It only gets tougher from here,” said Xin-Yao Ng, an investment director at abrdn in Singapore. “It’s a reminder that Trump will do something, because the first day might have given some the false impression that he might not. More gradual tariffs might also delay or reduce the force of stimulus that the market wants.”
Chinese stocks fell after US President Donald Trump said his threat to impose 10% tariffs on the nation’s goods was still being considered and may take place next month.
The benchmark CSI 300 Index snapped a four-day winning streak after Trump said tariffs on the Asian country were being weighed due to “the fact that they’re sending fentanyl to Mexico and Canada.” Those comments eroded the earlier optimism among investors that came after the new president refrained from referring to Chinese tariffs on his inauguration day Monday.
