Asian stock markets mixed after Trump tariffs announcement while gold reaches record high Analysts say measures so far have been less than feared but traders still cautious as uncertainty about US policy ‘has basically exploded’.
Asian markets were mixed on Tuesday as traders kept a nervous eye on Donald Trump’s next moves after he signed off on 25% tariffs for steel and aluminium imports, having warned of more measures to come.
And Charu Chanana, chief investment strategist at Saxo Markets, said: “These expanding trade actions beyond previous threats to Canada, Mexico and China are leading to potential new import restrictions and retaliation, signalling more bouts of volatility for investors.
Still, caution looms over trading floors as dealers brace for the next announcement out of the White House, with Maurice Obstfeld, senior fellow at the Peterson Institute for International Economics, saying: “The degree of uncertainty about trade policy has basically exploded.”.
Equities have held up since Trump took office – London and Frankfurt even hit record highs on Monday – with analysts saying measures had so far been less severe than feared.
