Asian stocks edged lower as traders grapple with how to position themselves in the countdown to President Donald Trump’s sweeping tariffs announcement.
A regional gauge declined as indexes in Japan and South Korea dropped at the open. Treasury yields advanced after a multi-day drop as traders weighed the odds of Federal Reserve policy easing.
Trump’s deliberations over his plans to impose reciprocal tariffs are coming down to the wire, with his team said to be still finalizing the size and scope of the new levies he is slated to unveil. That unpredictability has shaken markets, prompted economists to cut their growth forecasts and forced central bankers to factor in the potential inflationary impact of import costs.
Trump’s tariffs will take immediate effect after they are announced in the event that’s due to start from 4 p.m. New York time on Wednesday.
“Sentiment remains fragile before tariff day,” said Fawad Razaqzada at City Index and Forex.com. “With the exact scope of these measures still uncertain, you would imagine that investors remain cautious. The trajectory of stocks remains highly uncertain in the near-term outlook.”
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