Asia markets set to open mixed after Trump vows to significantly raise tariffs on India
Arutthaphon Poolsawasd | Moment | Getty Images
Asia-Pacific markets are expected to open mixed after U.S. President Donald Trump announced plans to raise tariffs on Indian exports to the country significantly.
"India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on social media platform Truth Social.
"They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he continued.
Happy Tuesday from Singapore. Asia markets are poised for a mixed open.
Australia's S&P/ASX 200 was set to start the day higher with futures tied to the benchmark at 8,701, compared with its last close of 8,663.70.
Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Osaka last traded at 40,610 against the index's last close of 40,290.70.
However, futures for Hong Kong's Hang Seng Index stood at 24,708 pointing to a weaker open compared with the HSI's last close of 24,733.45.
— Lee Ying Shan
All the three major averages soared into the green on Monday, with the Dow Jones Industrial Average recouping its losses from Friday's session.
The blue-chip index climbed 585.06 points, or 1.34%, to finish the day at 44,173.64.
Additionally, the broad market S&P 500 and the tech-heavy Nasdaq Composite rocketed higher by 1.47% and 1.95%, ending at 6,329.94 and 21,053.58, respectively.
— Sean Conlon
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