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Indian shares are expected to open lower on Thursday following U.S. President Donald Trump's imposition of a 26% reciprocal tariff on imports from India. This move is part of a broader plan to introduce a 10% baseline tariff on all trade partners, with even higher duties on several other countries, including China.
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Japan's Nikkei share average plummeted to an eight-month low following President Trump's announcement of a 24% levy on Japanese goods. The steep tariffs caused a widespread market decline, with the banking sector and automakers experiencing significant losses. Toyota shares fell 4.7%, and Tokyo Electron dropped 5.8%.
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The BBC's Michelle Fleury breaks down what the import taxes mean for the US and countries around the world.
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News and Media
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