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18 April 2024

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Asian shares climb as Trump postpones Mexico and Canada tariffs for a month

04-02-2025 10:41 AM


Ammon News - Asian shares climbed Tuesday after President Donald Trump said tariffs on Mexico and Canada would be delayed for a month.

Stocks across Asia were up Tuesday. The Hang Seng Index in Hong Kong grew 2.10% to 20,642.58. Japan’s benchmark Nikkei 225 was up 1.61% to 39,140.41, while South Korea’s Kospi grew 1.63% to 2,493.99. Australia’s S&P/ASX 200 rose 0.13% to 8,390.20.

The White House also said Trump would speak with Chinese President Xi Jinping, sparking hopes that a deal could be reached that could avert a broader trade war. Trump last week imposed 10% tariffs on Chinese goods that is expected to go into effect Tuesday.

Canada announced that it had reached a deal with the U.S. for a one-month reprieve only after U.S. markets had closed.

Analysts said that markets Tuesday were driven by the postponement of tariffs on countries like Canada and Mexico. AP




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