
APAC markets mixed as tariffs swing back into focus

Asia-Pacific markets traded mostly higher on Tuesday, after United States President Donald Trump unveiled steep tariffs on 14 nations, including key regional exporters Japan and South Korea. In a series of letters posted on Truth Social, Trump outlined new import duties that are set to take effect from 1 August. Exports to the U.S. from Japan, South Korea, Malaysia, Kazakhstan, and Tunisia will face 25% tariffs. Imports from Laos and Myanmar will be subject to an even steeper 40% duty. Other countries in the region are also set to be affected. Indonesia faces a 32% excise duty, Bangladesh 35%, while Cambodia and Thailand will be hit with 36% tariff rates, according to the posted letters. By 11:15 am AEST (1:15 am GMT), Australia’s S&P/ASX 200 was flat at 8,591.8, recovering from earlier losses. Japan’s Nikkei 225 rose 0.4%, and South Korea’s Kospi 200 gained a more robust 1.5%. Among the data released, National Australia Bank's Monthly Business Survey showed business confidence rose 3 points to +5 in June, beating expectations, while business conditions jumped 8 points to 9, boosted by strong gains in trading conditions and profitability. In the United States overnight, the major averages retreated as investors d