Malaysia is bracing for the possibility that US President Donald Trump’s tariffs will leave a lasting impact on its economy for years to come, given that nearly all of its trading and investment partners will be affected by the new regime.
Asian stock markets staged a modest recovery on Tuesday, rebounding from the previous session’s steep losses driven by escalating global trade tensions.
China refused to bow to what it called "blackmail" from the United States as a global trade war ignited by President Donald Trump’s sweeping tariffs showed little sign of abating on Tuesday, even as battered stock markets steadied.
Most Asian currencies steadied on Tuesday after logging steep losses in recent sessions on concerns over U.S. President Donald Trump’s plans a swathe of steep global trade tariffs.
Oil prices rose in Asian trade on Tuesday, recovering a small portion of recent losses as traders remained on edge over slowing demand amid a rapidly escalating U.S.-led trade war.
Goldman Sachs analysts said on Sunday evening that they now expect an even greater chance of a U.S. recession in 2025, especially after President Donald Trump unveiled his agenda for reciprocal tariffs.