Asia’s factories suffer major blow as Trump’s tariffs hit demand

Manufacturing activity across most of Asia contracted in April, with companies struggling with weaker demand and pausing new orders in the face of US President Donald Trump's baseline 10% tariff.

Purchasing managers indexes for the region's factory giants, including South Korea and Taiwan, slipped sharply last month as the global trade uncertainty led to declines in new orders and cutbacks in production, surveys published by S&P Global showed on Friday.