Japan will keep pressing the US to cut tariffs on cars and auto parts to 15% as promised in a trade deal and work to ensure the nation’s automakers remain competitive against their rivals, according to the nation’s chief trade negotiator.
Malaysia’s manufacturing conditions continued to improve in July as the slowdown in orders and production eased, suggesting that demand was stabilising.
Asian shares fell on Friday after the US slapped dozens of trading partners with steep tariffs, while investors anxiously await US jobs data that could make or break the case for a Fed rate cut next month.
Asian currencies fell to multi-month lows on Friday with South Korea's won and Malaysia's ringgit bearing the heaviest losses as investors abandoned riskier regional assets after the US imposed new tariffs on dozens of trading partners.
The White House said Malaysia’s exports to the US will be subject to a 19% tariff, according to its official website on Thursday.
This month, the natural rubber prices experienced a bearish trend due to improving supply in key production regions, rising port inventories, and uncertainties from trade tariffs. Increased production in major producers, combined with tariff induced high level inventories, and limited demand, particularly from the tyre industry, exacerbated market challenges. The market is under significant pressure, with a cautious outlook on demand recovery. Here's a summary of the latest trends in the NR sector: