By Admin 
Trump Tariff: The Asian stock market saw a huge decline on Monday after US President Donald Trump’s tariff was imposed. From Shanghai to Tokyo and Sydney to Hong Kong, the shares of the Asia-Pacific region declined so tremendously on Monday as it was not seen in the previous decades.
China’s Shanghai Composite Index recorded more than 8 %, Hong Kong’s Hong Seng recorded more than 13 percent and Japan’s Nikkei index recorded a decline of more than 7.8 percent. When the red color started deepening in the stock market, an analyst called it ‘bloodbath’.
Trump’s tariff caused a stir in Asian market
European markets also led to a decline in early trade. This decline was the highest in defense and bank shares. This uproar in the stock market is no less than a shock for the manufacturing sector of Asia because America is a big market for them. Exports from clothes to cars made here are the highest in America.
Countries like Japan and South Korea are also involved in Trump’s tariff, on which 26 percent tariffs have been imposed. Vikasshiral like Trump Vietnam is also preparing to impose 46 percent tariffs on the country. Apart from this, Cambodia has been imposed on 49 percent, Thailand 36 percent on Thailand and 54 percent on China. Many other countries like Singapore, New Zealand and Australia have also started baseline tariffs.
Asian market is afraid of this
Speaking to BBC, Chief Economist Kian Wang, Chief of Asia-Pacific of Investment firm Vangard, said, Asia is suffering the brunt of Tariff Hike of America. There is scope for conversation, but this new phase of high tariffs can remain. It is being told that Trump’s tariff policy is likely to cause a slowdown in America. Asian countries are very nervous due to this because this will cause great damage to their export in America.
Also read:
Black Mande’s prediction now expressed the possibility of recession, given this big advice to investors amid the ‘earthquake’ in the stock market