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    Stocks Notch Gains After More Tariff Whiplash

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    After exempting Chinese imports of smartphones, chips and other electronics, President Trump said on Sunday the carve outs were only temporary.Markets in Asia moved higher on Monday after a weekend that brought more shifts in strategy from President Trump about tariffs.Stocks in Japan rose a little over 1 percent while benchmarks went up 2 percent in Hong Kong and less than 1 percent in mainland China. S&P 500 stock futures, which let investors bet on how the index might perform when it opens in New York, were about 0.50 percent higher.The modest rally followed another chaotic week on Wall Street, with the S&P 500 starting with losses but ending with its best weekly performance since November 2022. The gains were driven by Mr. Trump’s announcement on Wednesday that he would pause for 90 days the “reciprocal” tariffs he had imposed on dozens of countries just a week earlier.On Friday night, after Mr. Trump had repeatedly said he would spare no industry, U.S. customs officials exempted a host of technology products imported from China. That means smartphones, semiconductors, computers and other equipment would not face most of the 145 percent tariffs Mr. Trump has imposed on China.The carve outs were viewed as a win for Apple and other American tech giants because tech products and components are a key part of American imports from China. A spokesperson for China’s Ministry of Commerce on Sunday called it a “small step” in “correcting” the tariffs Mr. Trump has put on China.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Another Rocky Day in Markets: Stocks in Asia Resume Their Slide

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      With the S&P 500 nearing a bear market, shares in Asia decline as China and other major U.S. trading partners await the start of significantly higher tariffs.Market turmoil extended into Wednesday’s trading session in Asia, as stocks across the region faced renewed downward pressure amid the impending imposition of significantly higher taxes on imports to the United States.Benchmark indexes in Japan and Hong Kong opened down more than 3 percent on Wednesday morning, following a day on Wall Street when stocks whipsawed. The S&P 500 ended near a bear market, which is a 20 percent drop from a recent peak — a symbolic, and relatively rare and worrisome threshold for investors.Stocks slumped across Asia in early trading on Wednesday. The declines were less pronounced in mainland China, South Korea and Taiwan, where indexes fell between around 1 and 2 percent.President Trump uprooted investors last week with the announcement of tariffs on countries across the world. Significantly higher American import taxes on goods from dozens of other countries were set to take effect at 12:01 a.m. ET on Wednesday.After Tuesday’s drop, the S&P 500 closed 18.9 percent below its mid-February record, having plunged more than 12 percent just in the days since Mr. Trump announced his new tariffs. S&P 500 futures, which let investors bet on the direction of the index when it resumes trading in New York, were about 1 percent lower.Administration officials appeared to leave the door open for negotiations that could ultimately defuse the trade war, citing the fact that dozens of countries had approached the U.S. government in recent days to strike deals. But White House officials have sought to set a high bar for what the president is willing to accept, marking a shift in tone after Mr. Trump and his aides initially signaled they would not haggle over tariffs at all.“If they come to us with really great deals that advantage American manufacturing and American farmers, I’m sure he’ll listen,” Kevin Hassett, the director of the White House National Economic Council, said in an interview on Fox News.But, he added, “after decades and decades of mistreating American workers, it’s going to be tough to get him to decide to really come to the table and sign on the dotted line.”Since Mr. Trump’s announcement last week of new tariffs, including a base tax of 10 percent on virtually all American imports, countries have responded with tariffs of their own on U.S. goods, or with threats of retaliation.China, the world’s second-largest economy, retaliated with 34 percent tariffs on American goods that are set to take effect at noon ET on Wednesday.Earlier this week, Japan emerged as the first major economy to secure priority tariff negotiations with the Trump administration. The news triggered a brief surge in Tokyo-listed stocks before they resumed their decline on Wednesday. More

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      Some Calm Returns to Asian Markets Even as Trade Tensions Escalate

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      Stocks rise in China after Beijing announces support measures a day after market plunges triggered by tariffs imposed by President Trump.After three days of global market turmoil not seen since the early days of the Covid-19 pandemic, stocks in Asia regained a measure of calm on Tuesday despite little let up in the escalating trade tensions caused by President Trump’s tariffs.Before markets opened in China, the government unleashed a series of measures to stabilize stocks. In turn, share prices in Hong Kong, a day after plunging 13.2 percent, rose 2 percent. Benchmarks in mainland China ticked higher, recovering from big declines the day before.In Japan, the Nikkei 225, a key benchmark in Japan, gained 6 percent, recouping a portion of the previous days losses. The uptick in sentiment followed comments made on Monday by Treasury Secretary Scott Bessent, who said he would soon begin discussions with the Japanese government regarding tariffs.The Kospi index rose in South Korea rose about 1.5 percent.Markets around the world were unmoored last week by Mr. Trump’s announcement of broad new tariffs — a base tax of 10 percent on American imports, plus significantly higher rates on dozens of other countries. Countries have responded with tariffs of their own on U.S. goods, or with threats of retaliation. China retaliated forcefully on Friday, matching a new 34 percent tariff with one of its own on many American imports.In the United States on Monday, the S&P 500 fell 0.2 percent after tumultuous trading that at one point pulled the benchmark into bear market territory, or a drop of 20 percent or more from its recent high. S&P futures, indicating how markets might perform when they reopen for trading on Wednesday in New York, were 1.5 percent higher.Wall Street executives and analysts are growing increasingly worried that escalating trade tensions could do lasting damage to the global economy.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More