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Asian Markets Decline Amid Continued Impact of US Tariffs

by Mich M.
04/07/2025
in Tariffs & Duties

Asian stock markets experienced significant declines as the global repercussions of US President Donald Trump’s tariffs continued to be felt across the region.

Major stock indices across Asia, including those in Shanghai, Tokyo, Sydney, and Hong Kong, dropped sharply when they opened on Monday. Japan’s Nikkei 225 index fell by 6%, the ASX 200 in Australia dropped by 4%, and South Korea’s Kospi lost 4.7%. Markets in mainland China, Hong Kong, and Taiwan saw further losses as investors adjusted to the large drops seen in other global markets on Friday, as those exchanges were closed for public holidays. The Shanghai Composite index fell more than 6%, and the Hang Seng and Taiwan Weighted Index both dropped by approximately 10%.

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Asian countries, as major manufacturers of goods sold globally, are facing the direct effects of the tariffs. The region is particularly sensitive to concerns that the escalating trade dispute could lead to a global slowdown or even a recession in the US, the world’s largest economy.

Analysts have expressed concerns about the broader economic implications, with fears around inflation and a potential recession. Goldman Sachs has raised its estimate of the likelihood of a US recession within the next year to 45%, up from a previous estimate of 35%. Other financial institutions, including JPMorgan, have also increased their recession forecasts, now estimating a 60% chance of a recession in the US and globally.

A slowdown in the US economy could have significant consequences for Asian exports, as the US is a key market for goods from the region. Countries such as Vietnam and Bangladesh, which rely heavily on the US for exports, are particularly vulnerable. Trump’s recent tariff announcement included a 46% tariff on goods from Vietnam and a 37% tariff on those from Bangladesh.

The garment industry in Bangladesh, which exports approximately $8.4 billion worth of goods annually to the US, could also be severely impacted by the higher tariffs. Major US brands such as Nike and Lululemon, which produce goods in Vietnam, may face increased costs.

The global market downturn deepened on Friday after China retaliated with its own tariffs on US goods. All three major US stock indices dropped more than 5%, with the S&P 500 falling nearly 6%, marking the worst week for the US stock market since 2020. In Europe, the FTSE 100 saw a nearly 5% decline, its sharpest drop in five years, while exchanges in Germany and France experienced similar losses.

Analysts expect the global stock market downturn to continue, with US futures indicating further declines for Wall Street. Since Trump’s announcement of sweeping new import taxes, global stock markets have lost trillions of dollars in value, as goods from a range of countries, including China, the European Union, and Vietnam, face significantly higher tariffs.

Find the latest updates in supply chain logistics news at The Supply Chain Report. Visit ADAMftd.com for free international trade tools.

#AsianMarkets #USTariffs #GlobalTrade #TradeWarImpact #TariffsAndDuties #USRecessionRisk #VietnamExports #BangladeshGarments #StockMarketDecline #TradeDisputes

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