After Trump tariffs rock markets, Asia equities plummet, and the Nikkei reaches its eighth-highest level.

After U.S. President Donald Trump announced sweeping 10% tariffs on most imports and significantly higher reciprocal duties on select countries, Asian stocks fell on Thursday, with Japan leading the declines.

Early Asian hours saw a 3%–5% decline in U.S. market futures.

Trump's tariff increase raises fears about international commerce.

In a major change to U.S. trade policy, President Trump said Wednesday that all imports would be subject to a 10% duty starting on April 5, 2025.

On April 9, 2025, "reciprocal tariffs" that target particular countries that are thought to have substantial trade barriers against American goods will also go into force. The rates that those nations apply to U.S. exports are roughly half of these reciprocal duties.

With the new 34% surcharge on top of the current 20% levy, China will be subject to a combined tariff of 54% under this new policy.

Asian economies, especially those of export-oriented countries like China, Japan, and Vietnam, may suffer greatly as a result of the decision. Reduced export volumes to the United States could result from the higher tariffs, which could hamper these nations' economic growth.

An 8-month low is reached by Japan's Nikkei due to tariffs.

On Thursday, Japan's Nikkei 225 fell as high as 4.7%, hitting its lowest point since early August 2024. As of 02:08 GMT, it was down 2.8%.

Other noteworthy duties include those imposed on Japan (24%), the European Union (20%), India (26%), Taiwan (32%), and Vietnam (46%).

Furthermore, on April 3, 2025, a 25% tariff on cars and essential auto parts manufactured abroad was scheduled to go into force.