On Thursday, Trump announced that proposed tariffs of 25% on Canada and Mexico will be implemented on March 4 after a month-long postponement.
Asia-Pacific markets are set to open lower on Friday after U.S. President Donald Trump confirmed that tariffs on imports from Mexico and Canada will be going ahead and taking effect next week.Japan's Nikkei 225 futures pointed to a lower open for the market.
The futures contract in Chicago is currently at 37,695 and its counterpart in Osaka last traded at 37,580 compared to the index's previous close of 38,256.17. Hong Kong's Hang Seng index futures were at 23,715, also slightly weaker than the HSI's last close of 23,718.29.that proposed tariffs on 25% on Canada and Mexico will be implemented on March 4 after a month-long postponement. The president said that these countries had not sufficiently reduced the flow of drugs across the border.Additionally, Trump also said that China, which already faces 10% U.S. tariffs on its products,"will likewise be charged an additional 10% Tariff on that date."Jim Watson | Afp | Getty Images US President Donald Trump speaks during a cabinet meeting at the White House in Washington, DC, on February 26, 2025. President Donald Trump said in a post on Truth Social that the delayed 25% tariffs on Canada and Mexico willTrump said in the post that the tariffs are due in part to fentanyl that enters the United States from foreign countries.
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