What tariffs? World markets tick up as Trump deadline looms
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“Financial markets have reacted to news of higher US tariffs in sanguine fashion,” Chris Turner, ING’s global head of markets, wrote in a commentary.
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investment
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July 8, 2025
11:50 AM
Fortune
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World tick up as Trump deadline loomsBY Teresa CerojanoBY The Associated PressBY Teresa CerojanoBY The Associated Press Stock brokers are looking at dataAssociated PressWorld s mostly rose Tuesday, with financial shrugging off U
Tariff pressures on its trading partners
In early European trading, Germany’s DAX rose 0. 2% to 24,112
Britain’s FTSE 100 edged 0. 2% higher to 8,822
France’s CAC 40 shed 0. 1% to 7,716
The futures for the S&P 500 added 0
The futures for the Dow Jones Industrial Average shed 0
In Asia, Japan’s Nikkei 225 added 0. 3% to 39,688. 81 while South Korea’s Kospi surged 1. 8% to 3,114
Hong Kong’s Hang Seng index climbed 1. 1% to 24,140. 13 while the Shanghai Composite gained 0. 7% to 3,497
Australia’s S&P/ASX 200 edged 0. 1% lower to 8,590
Stocks on Wall Street closed broadly lower on Monday as the White House stepped up pressure on major trading partners to make deals before punishing tariffs imposed by the U
The S&P 500 fell 0. 8% for its biggest loss since mid-June
The benchmark index remains near its all-time high set last week
The Dow Jones Industrial Average gave back 0. 9% while the Nasdaq composite also 0. 9% lower, not too far from its own record high
The losses were widespread
Decliners outnumbered gainers by nearly 4 to 1 on the New York Stock Exchange
It came after the Trump administration released letters informing Japan and South Korea that their goods will be taxed at 25% starting on Aug. 1, citing persistent trade imbalances with the two crucial U
President Donald Trump also announced new tariff rates on Malaysia, Kazakhstan, South Africa, Laos and Myanmar
Tariffs on goods imported from nearly every country around the globe were to take effect in April, Trump postponed the levies for 90 days in hopes that foreign governments would be more willing to strike new trade deals
That 90-day negotiating period was set to expire before Wednesday
In a post on his social media platform late Sunday, Trump also said any country that aligns itself with what he termed “the Anti-American policies of BRICS” would be levied an added 10% tariff
BRICS member nations include Brazil, Russia, India, China, South Africa, Egypt, United Arab Emirates, Ethiopia, Indonesia, and Iran
Saudi Arabia has also been invited to join. “Financial have reacted to news of higher US tariffs in sanguine fashion,” Chris Turner, ING’s global head of, wrote in a ary. “Presumably, the view is now that there are more deals to be done before the 1 August deadline. ” He said equity have recovered most of their initial losses, bond have barely budged and in FX, Asian currencies have bounced back
In other dealings on Tuesday, benchmark U
Crude oil lost 29 cents to $67. 64 per barrel
Brent crude, the international standard, gave up 18 cents to $69
The dollar was trading at 146. 17 to the Japanese yen, up from 146
The euro rose to $1. 1752 from $1. ___ AP Writer Alex Veiga contributed to this report
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