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Tariff War: The Asian stock markets experienced some boom as US lifted the import duty on many consumer electronics products. Most of the Asian markets are in green due to the weakened dollar and the lifted ban on import duties. Now looking at Japan, Nikkei 225 is up 1.58% and currently sitting at 34,115.52; Shanghai Composite in China is at 3,267.58 with an increase of 0.91 percent while CSI 300 sits at 3,772.69 with an increase of 0.59 percent; Hong Kong's Hang Seng is at 21,466.06 with an increase of 2.64 percent; South Korea's Kospi is at 2,455.91 with an increase of 0.95 percent; Singapore's Straits Times is at 3,581.27 with a 1.96 percent increase.
American relief is only interim
The aid provided by the US on Smartphones, Laptop computers, and memory chips, which are being exploited by the Asian markets, remain short-lived. This is so because as we know president Donald Trump signaled that specific duties are earmarked for consumer electronics and microchips. Trump said that he will impose tariffs on phones, computers, and consumer electronics. Let us tell you that late on Friday, US President Donald Trump kept electronics out of 125 percent Tariff imposed on China and 10 percent tareeiff on other countries. However, that relief is aimed towards the strategy of imposing special duties on them. Trump even hinted on Sunday about this. In the other hand, China had claimed on the relief issued on Friday that the concession is a step in the right direction towards amending the errors made. China called the US make avaliable more efforts to unbuckle the duty.
What do analysts say?
A relief came from the electronics sector, which Vishnu Varathan, head of economics and strategy at Mizuho Bank in Singapore, says the market welcomed and is hungry for opportunistic reliefs. On the contrary, trading in the short term has become nearly impracticable owing to mixed remarks and the prevailing policy, as stated by Sydney-based Wilson Asset Management Portfolio Manager Matthew Haupt. He added that there is much noise, but the expectation is that a deal will materialize and conditions will improve relative to now.
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