Trump said he will impose a baseline tariff of 10% on imports into the US and slap additional duties on countries with large trade imbalances. Traders rushed to hunt for potential winners, with select items being excluded from additional levies and some industries benefiting from stricter penalties on competitors.
US President Donald Trump’s fresh tariffs brought some unexpected stock winners to the fore in Asia, even as equity markets tumbled across the region.
Pharmaceutical firms in India, defence manufacturers in South Korea and Malaysian glove-makers are among sectors bucking the trend on Thursday, as the regional equity benchmark slumped as much as 1.7% to its lowest level since Feb 4.
