Trade Turbulence: Trump Tariffs Stir Global Markets

Asia's market performance dipped after a U.S. appeals court temporarily reinstated Trump's tariffs, creating uncertainty. The move followed a trade court's decision to block the duties, citing presidential overreach. Senior Trump officials remain committed to maintaining the tariffs, despite ongoing legal appeals and stalled trade talks with China.

Stocks in Asia experienced a downturn on Friday as investors reacted to an appeals court's decision to temporarily uphold President Donald Trump's tariffs, shortly after markets had rallied following a ruling to block most of them.

Japan's Nikkei saw a significant drop, influenced by fluctuations in yen demand, while Hong Kong's Hang Seng and South Korea's KOSPI also declined. The unexpected legal action added uncertainty to Trump's trade agenda, affecting investment decisions and hiring.

Treasury Secretary Scott Bessent continues negotiations with global trade partners but noted stalled talks with China, hinting that intervention from Trump and Chinese President Xi Jinping might be necessary to finalize agreements.

(With inputs from agencies.)