[SINGAPORE] Asian stocks were mixed on Monday after Donald Trump thrust his trade war back into the spotlight by threatening the European Union with huge tariffs before extending a deadline for their implementation.
Just as markets were showing signs of settling following their bond-fuelled selloff last week, the US president hurled his latest grenade across the pond by levelling 50 per cent levies at the bloc from June 1, saying talks were “going nowhere”.
He also said he would hit smartphone makers with 25 per cent tolls if they did not make their handsets in the United States.
Wall Street’s three main indexes and most European markets dumped into the red on Friday.
However, Asia got a reprieve after Trump said on Sunday that he would delay the EU tariffs until July 9 following a “very nice call” with its boss Ursula von der Leyen, adding that officials will “rapidly get together and see if we can work something out”.
