KUALA LUMPUR: President Donald Trump announced on Wednesday (April 2) that the United States (US) would introduce a baseline tariff of 10 per cent on all countries and higher duties on some countries, including Malaysia at 24%
This could put Asian equities under pressure as financial markets open on Thursday (April 3).
"While this caused an initial relief rally globally, sentiment in Asia is likely to deteriorate as the market digests the higher tariffs directed at specific countries, including China, which is facing 34% on imports and Japan's 24% duty."
"Vietnam and Cambodia face even steeper tariffs at 46% and 49%, respectively,” investor and global macro analyst ActivTrades Anderson Alves said in a market commentary. - Bernama
