(3 Apr 2025)
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RESTRICTION SUMMARY:
ASSOCIATED PRESS
Tokyo, Japan – 3 April 2025
1. Nikkei Index at 34102 after falling by 1623 yen
2. Display board of index and stocks at Tokyo Stock Exchange
3. Pan of display board
4. Tokyo Stock Exchange opening display
5. Nikkei Index at the opening, falling by 684 yen
6. Display of stocks, falling
7. Display of Japanese automakers’ stocks falling
8. Cars/transport industry stock falling
9. Stock display board
STORYLINE:
Asian markets and U.S. futures tumbled Thursday following U.S. President Donald Trump’s announcement of big increases in tariffs on imports of goods from around the world.
Tokyo’s Nikkei 225 index dipped more than 3.4%, but recovered slightly. It was down 2.9% at 34,699.52.
Trump said he was imposing a 24% “reciprocal tariff” on Japan, one of the United States’ closest allies.
South Korea, also an ally, was hit with a 25% tariff. Its benchmark Kospi slumped 1.9% soon after the opening, to 2,459.30.
In Australia, the S&P/ASX 200 fell 1.8% to 7,793.10.
Financial markets around the world have broadly been shaky lately because of uncertainty about Trump’s trade war. He has said he wants tariffs to make the global system fairer and to bring manufacturing jobs back to the United States from other countries.
But tariffs also threaten to grind down growth for the U.S. and other economies, while worsening inflation when it may be stuck above the Federal Reserve’s 2% target.
After the U.S. market closed, Trump declared a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States.
The president held up a chart while speaking at the White House, showing the United States would charge a 34% tax on imports from China, a 20% tax on imports from the European Union, and 32% on Taiwan.
Trump earlier announced 25% tariffs on auto imports; levies against China, Canada and Mexico; and expanded tariffs on steel and aluminum.
AP Video by Ayaka McGill
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