Asia’s financial markets remained on edge as trade concerns stayed on centre stage following a flurry of developments tied to U.S. tariff policy.
Former President Donald Trump signalled a possible softening of his trade stance, saying he would consider a deal in which China approves the sale of TikTok in exchange for U.S. tariff relief. He also said the U.S. remains open to tariff negotiations if other countries offer "something phenomenal." Despite this, Trump confirmed new tariffs on semiconductors are coming "very soon," while pharmaceutical products are also under review for potential duties.
Adding legal pressure to the mix, the first lawsuit challenging Trump's latest tariffs on Chinese imports was filed in court. The suit, brought by the New Civil Liberties Alliance, argues Trump overstepped his legal authority by invoking the International Emergency Economic Powers Act (IEEPA) to impose the sweeping measures.
In Japan, Bank of Japan Deputy Governor Uchida reiterated that the central bank will consider raising interest rates if underlying inflation continues to rise amid improving economic conditions. Meanwhile, BOJ Governor Kazuo Ueda warned that escalating U.S. tariffs are likely to exert downward pressure on both Japan's and the global economy, heightening concerns over international trade disruptions.
In commodity markets, Goldman Sachs and Barclays both cut their oil price forecasts, citing trade-related demand concerns and a modest increase in OPEC+ supply. Goldman now sees Brent crude averaging $69 per barrel in 2025, while Barclays said downside risks to its $74 forecast have increased significantly due to the growing impact of the trade war.
USD/JPY swung around in a wide range145.60 or so to 146.60 and thereabouts. EUR, GBP, CAD are all not a lot net change on the session. Just before writing this up AUD and NZD came under selling pressure, with no real fresh catalysts to point to. If the global economy is going to come under pressure from the drastic trade war ramp up the moves makes sense, though.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( ForexLive Asia-Pacific FX news wrap: Trump ready to negotiate on tariffs )
Also on site :
- How severe allergy season will be this year and how to relieve symptoms
- Tories think Jenrick is making new push for leadership as Badenoch stumbles
- Your Angel Number to Manifest Luck, Based on Zodiac Sign