CNBC's live blog covering Asia-Pacific markets. Traders seek safety after Trump imposes tariffs on Mexico, Canada, and China. Oil prices rise, while Caixin/S&P Global services manufacturing activity data for China is expected later today. India's Union Budget, offering income tax relief and fiscal deficit reduction, was also released over the weekend.
This is CNBC's live blog covering Asia-Pacific markets.Caixin/S&P Global services manufacturing activity data for China will be released later in the day. The PMI is expected to come in at 50.5, according to Reuters poll estimates.
On Saturday, Trump signed an order implementing a 25% tariff on imports from Mexico and Canada, and a 10% tariff on goods from China. Energy exports from Canada will face a reduced 10% tariff, which are set to come into effect on Tuesday stateside.India's Union Budget released over the weekend that offered a huge income tax relief to the country's middle class. The Indian government also pledged to reduce its fiscal deficit to 4.4% of its GDP for the year beginning April 1, a decrease from a revised 4.8% for the current year, amongst other measures.—CNBC's Lisa Kailai Han, Alex Harring and Tanaya Macheel contributed to this report.Traders appeared to search for safety in early Sunday night trading after the U.S. hit key trade partners with hefty tariffs on goods.
Finance TRADES TARIFFS ASIAMARKETS OIL PRICES INDIA BUDGET
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