Asian markets looked set to slip on Monday after tariffs imposed by the U. S. on Chinese goods were met with swift retaliation from Beijing.
Asian markets looked set to slip on Monday after tariffs announced by the U. S. on Chinese goods last week were met with swift retaliation from Beijing.
Futures tipped a lower open for Japan, with Nikkei futures traded in Chicago last lower by 0.18 percent compared to the index’s Friday close. Australian SPI futures, meanwhile, were flat at the end of the previous trading session.
Markets in China, Hong Kong, Taiwan and Indonesia will be closed on Monday for holidays.
Trade is likely to be top of mind for investors after the Trump administration said it will impose a 25 percent tariff on a list of 818 items of Chinese goods worth around $34 billion beginning July 6. Measures affecting an additional 284 products worth $16 billion will be subject to review before taking effect.
In response, China said a 25 percent tariff will be implemented on U. S. goods, including soybeans and electric vehicles, worth $34 billion starting July 6.
