Major Asian stock markets posted gains on Tuesday, even as tensions between the United States and China escalated over proposed new tariffs.

Beijing issued a sharp response after US President Donald Trump threatened to impose an additional 50% tariff on Chinese goods if China does not roll back its retaliatory measures. China’s commerce ministry accused Washington of “blackmail” and described the proposed tariffs as “a typical example of unilateral bullying.”

In a statement, the ministry said China would “fight to the end” to defend its economic interests.

The tariff standoff has left some US importers facing potential duties of up to 104% on certain Chinese goods, deepening concerns about the impact on global trade and supply chains.

Despite the rising tensions, most Asian markets opened in positive territory on Tuesday. However, Taiwan’s benchmark index extended losses, dropping another 4% amid investor uncertainty.

The ongoing trade dispute has drawn comparisons to a high-stakes standoff, with global markets closely watching for signs of resolution. As analyst Anthony Zurcher writes, President Trump appears engaged in a game of economic brinkmanship — with the fate of the global economy in the balance.

Source: BBC

BDST: 1305 HRS, APR 08, 2025
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