People walking through the neon lit night streets of Sinchon in the heart of Seoul, South Korea\u2019s vibrant capital city.<\/p>\n
Fotovoyager | E+ | Getty Images<\/p>\n
Asia-Pacific markets traded mixed after President Donald Trump told U.S. steelworkers late Friday that he will double tariffs on steel imports to 50%, effective from Wednesday.<\/p>\n
Japan’s benchmark Nikkei 225<\/a> fell 0.89% and the Topix declined 0.65% at the open. South Korea’s Kospi<\/a> added 0.16% while the small-cap Kosdaq traded flat.<\/p>\n Australia’s\u00a0S&P\/ASX 200<\/a> was also unchanged at the open.<\/p>\n Futures for Hong Kong’s Hang Seng index<\/a> stood at 22,901, lower than its last close of 23,289.77.<\/p>\n China, Malaysia and New Zealand markets are closed for the holidays.<\/p>\n “We’re going to bring it from 25% to 50%, the tariffs on steel into the United States of America,” Trump said during remarks at U.S. Steel’s Irvin Works in West Mifflin, Pennsylvania, adding that the steep tariffs would “further secure the steel industry.”<\/p>\n Trump also posted on\u00a0Truth Social<\/a> that the steel tariffs will start on June 4.<\/p>\n U.S. stock futures fell as Wall Street looks to the start of a new month of trading following a strong performance in May. S&P 500 futures<\/a>\u00a0traded down 0.3%, along with\u00a0Nasdaq-100 futures<\/a>.\u00a0Futures<\/a>\u00a0tied to the Dow Jones Industrial Average also declined 108 points, or 0.3%.<\/p>\n Last Friday, the three major averages closed mixed. The\u00a0S&P 500<\/a>\u00a0was little changed on Friday to close out a big winning month, inching down by 0.01% to end at 5,911.69. The\u00a0Nasdaq Composite<\/a>\u00a0slid 0.32% to 19,113.77, while the\u00a0Dow Jones Industrial Average<\/a>\u00a0added 54.34 points, or 0.13%, to finish at 42,270.07.<\/p>\n \u2014 CNBC’s Brian Evans and Alex Harring contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"People walking through the neon lit night streets of Sinchon in the heart of Seoul, South Korea\u2019s vibrant…\n","protected":false},"author":2,"featured_media":150745,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[15193,4959,51,3085,2306,1395,32,2122,21347,2441,704,21349,15695,16,15,49],"class_list":{"0":"post-150744","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-asia-economy","9":"tag-breaking-news-markets","10":"tag-business","11":"tag-business-news","12":"tag-chicago","13":"tag-china","14":"tag-donald-trump","15":"tag-japan","16":"tag-kospi-index","17":"tag-markets","18":"tag-new-zealand","19":"tag-nikkei-225-index","20":"tag-osaka","21":"tag-uk","22":"tag-united-kingdom","23":"tag-united-states"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114610903650937391","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/150744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=150744"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/150744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/150745"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=150744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=150744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=150744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}