OREANDA-NEWS Shares of Asian export-dependent companies fell sharply after US President Donald Trump announced tariffs, signaling the start of a new round of global trade war. This was reported by Bloomberg.

According to him, the MSCI Asia Pacific index fell by more than two percent. At the same time, Asian investors hoped that tariffs could be postponed or canceled in further negotiations after Trump demonstrated a softer-than-expected policy towards China. Nevertheless, the new duties could particularly harm Chinese exports and undermine its already struggling economy.

In addition, the United States is considered the most important market for Japan's largest automakers. They sell cars in the United States that are made or assembled in Mexico. As a result, after Trump imposed tariffs on Mexico, shares of Toyota, Honda and Nissan fell by at least five percent. Shares of the South Korean automaker Kia, which has a factory in Mexico, fell by more than five percent.

Shares of Chinese electric car manufacturers Li Auto and XPeng collapsed by at least six percent, while manufacturers of sportswear Li Ning and household appliances Haier Smart Home fell by more than seven percent. The securities of semiconductor equipment manufacturers Tokyo Electron and Advantest Corp. showed a two percent decrease. and Disco Corp.

Earlier, China said that after the introduction of US duties, it would file a lawsuit with the World Trade Organization. Beijing is confident that such actions by Washington seriously contradict the rules of this association.