Global markets today: Nikkei, Kospi trade mix after Trump slaps 50% tariff on Brazilian imports | Stock Market News
Global markets today: Asia-Pacific markets opened mixed on Thursday following an announcement by U.S. President Donald Trump that a 50% tariff will be imposed on Brazilian imports starting August 1.
In a letter, Trump stated that the new tariff — a significant jump from the 10% rate implemented in April — aims to counter what he described as a “very unfair trade relationship” between the U.S. and Brazil. He also noted that the sharp increase is, in part, a response to the ongoing legal proceedings against Brazil’s former president, Jair Bolsonaro.
Japan’s Nikkei 225 index opened with a 0.45% decline, while the Topix fell by 0.54%. In contrast, South Korea’s Kospi edged up by 0.24%, and the Kosdaq, focused on smaller-cap stocks, gained 0.44%. Meanwhile, Australia’s S&P/ASX 200 rose by 0.51%.
(This is a developing story)
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