BANGKOK (AP) — The Latest on reaction to President Donald Trump's threat to raise tariffs on imports from China to 25% as of this coming Friday (all times local):
3:40 p.m.
China's benchmark Shanghai Composite index has closed 5.6% lower after President Donald Trump said he planned to raise tariffs in a dispute with Beijing.
The threat, conveyed via Twitter, dashed expectations that the two biggest economies might forge a deal in talks this week.
U.S. futures sank ahead of Monday's market opening, with the future contract for the Dow Jones Industrial Average shedding 1.8% to 26,019.00. S&P 500 futures declined 1.7% to 2,897.00.
Elsewhere, shares fell in Paris and Frankfurt. The Shenzhen A-share index, which includes many smaller companies, tumbled 7.4% on Monday while the Hang Seng in Hong Kong dropped 2.9%.
Markets were closed in Japan and South Korea for holidays.
___
12:30 p.m.
Chinese share benchmarks have plummeted more than 5% as threats by President Donald Trump to raise tariffs in the trade war with Beijing raised doubts over the likelihood of a deal between the two biggest economies.
The Shanghai Composite index plunged 5.8% to 2,906.33 while the Shenzhen A-share index, which includes many smaller companies, tumbled 6.2%.
In Hong Kong, the Hang Seng dropped 3.2% to 29,117.32.
Chinese government offices did not immediately respond to requests for comment on Trump's suggestion the U.S. would raise import taxes on $200 billion in Chinese products to 25% from 10% as of Friday.
The tweets followed comments by U.S. trade negotiators suggesting the two sides might reach a deal this week on their dispute over Chinese industrial policy and technology.
___
10:00 a.m.
Shares tumbled in Asia early Monday after President Donald Trump threatened in a tweet to impose more tariffs on China.
The Shanghai Composite index sank 4.8% and the Hang Seng in Hong Kong plunged 3.5%. Markets were closed in Japan. The future contract for the Dow Jones Industrial Average fell 1.9% to 25,996.00, while that for the S&P 500 also shed 1.9%, to 2,892.00.
Trump's comments came a Chinese delegation was due to resume talks in Washington on Wednesday aimed at resolving a tariffs battle that has rattled world markets.
Apparently catching Beijing by surprise, Trump said he would raise import taxes on $200 billion in Chinese products to 25% from 10%.
The Wall Street Journal, citing unidentified sources, said China's government was considering canceling this week's talks.
Before you consider Share Plc (SHRE.L), you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Share Plc (SHRE.L) wasn't on the list.
While Share Plc (SHRE.L) currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
