CNBC provides live coverage of the Asia-Pacific markets as they respond to President Trump's new tariffs on imports from Mexico, Canada, and China. The Indian Union Budget, released over the weekend, also impacts market sentiment.
CNBC is providing live coverage of the Asia-Pacific markets. Japan's Nikkei 225 futures are indicating a lower opening for the market. The futures contract in Chicago was at 38,740, while its counterpart in Osaka last traded at 39,360, compared to the index's previous close of 39,572.59. Later today, we will see the release of Caixin/S&P Global services manufacturing activity data. The PMI is projected to land at 50.5, according to Reuters poll estimates.
On Saturday, former President Trump signed an executive order imposing 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 scheduled to take effect on Tuesday in the United States.Over the weekend, India unveiled its Union Budget, which offered substantial income tax relief to the country's middle class. The Indian government also committed to decreasing its fiscal deficit to 4.4% of its GDP for the year beginning April 1st, down from a revised 4.8% for the current year, among other measures. - CNBC's Lisa Kailai Han, Alex Harring, and Tanaya Macheel contributed to this report. Traders appeared to seek refuge in safe-haven assets during early Sunday night trading following the U.S.'s imposition of substantial tariffs on key trade partners. Oil prices commenced Sunday trading higher after the U.S. levied tariffs on goods from China, Canada, and Mexico — all major trading partners.
ASIA-PACIFIC MARKETS TARIFFS INDIA BUDGET NIKKEI 225 OIL PRICES
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