US LNG exports surge but will buyers in China turn up?
Investing.com-- Most Asian stocks fell on Friday tracking Wall Street’s overnight slump, as investor uncertainty deepened over U.S. trade policies after President Donald Trump postponed 25% tariffs on most Mexican and Canadian goods just two days after imposing them.
Major U.S. stock indices closed sharply lower on Thursday over President Donald Trump’s fluctuating tariff policies.
Trump delays tariffs on Mexico, Canada; sparks broader sell-off
On Tuesday this week, President Trump escalated trade tensions by imposing 25% tariffs on Canadian and Mexican goods, and increasing levies on Chinese products to 20%.
However, he later softened his stance, by delaying 25% tariffs on vehicle imports from Mexico and Canada, offering temporary relief to global markets.
Trump, on Thursday, announced a temporary exemption for goods imported from Canada and Mexico under the United States-Mexico-Canada Agreement (USMCA), delaying the implementation of a 25% tariff until April 2.
The initial imposition of tariffs had already unsettled global markets, and the subsequent postponement has added to the volatility, leaving investors uncertain about future trade relations and economic policies.
Japan’s Nikkei 225 plunged 2.1% on Friday, while TOPIX declined 1.2%.
Australia’s S&P/ASX 200 index fell 1.6%.
Hong Kong’s Hang Seng index inched 0.2% lower, after jumping 3.2% in the previous session.
China’s Shanghai Composite edged 0.1% lower, while the Shanghai Shenzhen CSI 300 lost 0.3%.
South Korea’s KOSPI was trading 0.4% lower, while India’s Nifty 50 Futures edged up 0.2%.
Data barrage next week: CPI data from China and India; revised GDP for Japan
China’s National People’s Congress will conclude on Tuesday. February consumer price and producer price inflation data are scheduled for Sunday, March 9.
India’s February consumer price inflation data is also due next week.
Japan’s fourth-quarter revised gross domestic product (GDP) data is scheduled for release on Tuesday.
“Fourth quarter GDP is likely to be revised downward slightly from 0.7% quarter on quarter, seasonally adjusted, to 0.5% as capital spending comes in weaker than expected,” ING analysts said in a note.