Asia Markets: Asian markets mixed as latest U.S.-China tariffs take effect [MarketWatch]
RAKUTEN GROUP INC S/ADR (RKUNY)
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Source: MarketWatch
Asian markets mixed as latest U.S.-China tariffs take effect Asian markets were a mixed bag Monday as the latest round of tariff hikes in the U.S.-China trade war took effect. U.S. tariffs on $112 billion of Chinese goods were raised from 10% to 15% effective Sunday, and China responded by raising tariffs on some U.S. goods. Additional tit-for-tat tariff hikes are scheduled to take effect Oct. 1 and Dec. 15. Many U.S. companies have warned that they will need to pass on the costs of the tariffs to consumers. President Donald Trump told reporters Sunday that “We can’t allow China to rip us off anymore as a country,” but said trade negotiations with China were still set to resume this month. Earlier this weekend, the official gauge of China’s factory activity showed sluggish output for a fourth straight month. The manufacturing purchasing managers index edged down to 49.5 in August from 49.7 in July, according to China’s National Bureau of Statistics, lower than economists’ median forec
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