Asian Shares Fall Sixth Day on US Tariffs Across 68 Countries, EU

Asian and global stock markets experienced significant declines following President Donald Trump's announcement of new tariffs on 68 countries and the European Union, set to take effect within days. The tariffs include a 10% global minimum and higher duties on countries with trade surpluses with the US, such as 25% on India's exports, 20% on Taiwan's, and a 39% levy on Swiss exports. This move has injected uncertainty into global trade, overshadowing recent strong earnings from major tech companies and causing a multi-day selloff in Asian markets, with South Korea and Taiwan particularly affected. The US dollar posted its first monthly gain since Trump took office, while currencies like the Taiwan dollar and Swiss franc weakened. Analysts highlight that although the tariffs provide some clarity on rates, the lack of a clear framework and the arbitrary nature of the tariffs contribute to policy unpredictability, complicating business and investment planning. Investors now face increased concerns over trade disruptions and economic growth, dampening the AI-driven optimism that had supported equity markets earlier in the year.