US Tariffs Take Effect, Stirring Asia-Pacific Markets

As new US tariffs on imports from China, Canada, and Mexico come into effect, major Asia-Pacific markets have shown mixed reactions. The implementation has prompted immediate retaliation from China and Canada, signaling a potential escalation in trade tensions.

China and Canada's Retaliation Measures

China has announced plans to impose tariffs on a range of US agricultural products, including chicken, wheat, and soybeans, starting March 10. Similarly, Canada is preparing its own set of retaliatory tariffs, marking a significant moment in international trade relations.

Market Reactions Across the Asia-Pacific

Japan's Nikkei 225 experienced a notable decline, while Australia's S&P/ASX 200 also closed lower. In contrast, China's Shenzhen Composite and Shanghai Composite saw modest gains, highlighting the varied impact of the tariffs across the region.

Meanwhile, the dollar remained stable against the Japanese yen, reflecting the complex interplay between trade policies and currency markets.