Asia markets set to open lower, tracking Wall Street losses
"We're going to be announcing [tariffs] on semiconductors and chips, which is a separate category, because we want them made in the United States," Trump said on Tuesday stateside, adding that he'll announce the new plan "within the next week or so."
Happy Wednesday from Singapore. Asia markets are poised for a lower open.
Australia's S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,739, compared with its last close of 8,770.4.
Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Osaka last traded at 40,555 against the index's last close of 40,549.54.
Futures for Hong Kong's Hang Seng Index stood at 24,812, pointing to a weaker open compared with the HSI's last close of 24,902.53.
— Lee Ying Shan
The three leading U.S. indexes finished lower Tuesday.
The S&P 500 fell 0.49%, closing at 6,299.19, while the Nasdaq Composite slid 0.65% to end at 20,916.55. The Dow Jones Industrial Average moved 61.90 points lower, or 0.14%, to settle at 44,111.74.
— Sean Conlon
U.S. President Donald Trump speaks to reporters near Air Force One at the the Lehigh Valley International Airport on August 03, 2025 in Allentown, Pennsylvania.
Anna Moneymaker | Getty Images
President Donald Trump spoke with "Squawk Box" in a wide-ranging conversation. Here are some of the highlights:
On semiconductors, Trump said his administration is going to announce new tariffs "within the next week or so." "We're going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States," he said during the interview.
When it comes to his planned pharmaceutical tariffs, Trump said that the levies could eventually reach up to 250%. That's the highest tariff rate he's threatened to date.
The president also revealed in the interview that he's considering four candidates for future Federal Reserve chair, which does not include Treasury Secretary Scott Bessent. "Well, I love Scott, but he wants to stay where he is," Trump said.
— Kevin Breuninger, Annika Kim Constantino, Jeff Cox, Sean Conlon
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