BANGKOK (AP) — Global markets displayed mixed reactions as shares rose in Europe and Asia, while U.S. futures declined following U.S. President Donald Trump’s announcement that he would proceed with additional tariff hikes. Speaking on Air Force One, Trump stated he has no intention of backing away from another round of tariffs scheduled to take effect on April 2.
“April 2 is a liberating day for our country,” Trump remarked. “We’re getting back some of the wealth that very, very foolish presidents gave away because they had no clue what they were doing.”
Trump also mentioned retaliatory measures by trading partners, stating, “They charge us and we charge them.” He added that further tariffs would be imposed on automobiles, steel, and aluminum.
The futures for the S&P 500 and the Dow Jones Industrial Average dipped by 0.5%. In Europe, Germany’s DAX increased by 0.1% to 23,001.81, while the CAC 40 in Paris gained 0.1% to 8,032.48. Britain’s FTSE 100 rose 0.1% to 8,639.97.
Chinese markets showed strength after the government reported better-than-expected factory data. Officials emphasized efforts to boost consumer spending, crucial for reviving the economy. Most economists advocate for comprehensive reforms to enhance consumer confidence and purchasing power.
Hong Kong’s Hang Seng climbed 0.8% to 21,144.86, and the Shanghai Composite index was up 0.2% at 3,426.13. China’s industrial output increased nearly 6% in the first two months of the year compared to the previous year, and retail sales were up 4%. However, the property market remains weak, with home prices falling and real estate investment down nearly 10%.
In Tokyo, the Nikkei 225 index surged 0.9% to 37,396.52, and Seoul’s Kospi leaped 1.7% to 2,610.69. Australia’s S&P/ASX 200 gained 0.8% to 7,854.10, and Taiwan’s Taiex was up 0.7%. Bangkok’s SET gained less than 0.1%.
On Friday, Wall Street experienced a rebound but not enough to prevent the U.S. market from its fourth consecutive losing week, the longest such streak since August. Uncertainty from Trump’s tariff announcements has led to drops in confidence among U.S. households and businesses, raising concerns about reduced spending impacting the economy.
The S&P 500 jumped 2.1% after closing more than 10% below its record for its first “correction” since 2023. The Dow Jones Industrial Average climbed 1.7%, and the Nasdaq composite surged 2.6%.
U.S. benchmark crude oil gained 48 cents to $67.66 per barrel in early Monday trading. Brent crude, the international standard, added 49 cents to $71.07 per barrel. The U.S. dollar rose to 148.93 Japanese yen from 148.81 yen, while the euro slipped to $1.0880 from $1.0882.
— news from The Associated Press