Asia Mixed After Canada Hit with Heavy Tariffs
Asia-Pacific markets traded mixed Friday after U.S. President Donald Trump announced 35% tariffs on Canada starting Aug. 1.
He also told NBC News Thursday that he plans to impose blanket tariffs of 15% or 20% on most trade partners.
In Japan, the Nikkei 225 retreated 76.68 points, or 0.2%, to 39,569.68.
In Hong Kong, the Hang Seng gained 111.2 points, or 0.5%, to 24,139.57.
Australia-listed mining firms rose Friday as investors continued to assess the impact of the U.S.' 50% tariff on copper imports.
Shares of Rio Tinto rose 2.28%. Fortescue climbed 2.85%, while BHP Group was 2.77% higher.
The rally comes as copper prices hit all-time highs and U.S. buyers face steeper premiums compared to international rates after the unexpectedly aggressive move to slap 50% duties on the metal starting Aug. 1.
In other markets,
In Shanghai, the CSI 300 picked up 4.79 points, or 0.1%, to 4,014.81
In Korea, the Kospi index dipped 7.46 points, or 0.2%, to 3,175.77.
In Singapore, the Straits Times index added 12.11 points, or 0.3%, to 4,087.81.
In Taiwan, the Taiex index jumped 57.78 points, or 0.3%, to 22,751.03.
In New Zealand, the NZX 50 dropped 73.52 points, or 0.6%, to 12,686.68.
In Australia, the ASX 200 dropped 9.03 points, or 0.1%, to 8,580.13.
