{"id":96716,"date":"2025-04-03T10:45:46","date_gmt":"2025-04-03T08:45:46","guid":{"rendered":"https:\/\/radioislam.org.za\/a\/?p=96716"},"modified":"2025-04-03T10:46:37","modified_gmt":"2025-04-03T08:46:37","slug":"the-asia-pacific-report-52","status":"publish","type":"post","link":"https:\/\/radioislam.org.za\/a\/the-asia-pacific-report-52\/","title":{"rendered":"The Asia Pacific Report"},"content":{"rendered":"

Sameera Casmod | sameerac@radioislam.co.za<\/a>
\n3 April 2025 | 10:47 CAT
\n3-minute read<\/p>\n

\"\"<\/p>\n

Impact of Trump\u2019s new global import tariff announcement on markets<\/strong><\/p>\n

President Donald Trump announced on Wednesday that a 10% tariff will be imposed on most goods imported into the United States that will be effective on April 5, 2025. Additionally, dozens of countries were hit with higher duties, which reportedly unleashed turbulence across world markets and plunged the stock markets into turmoil. A Reuters report revealed that the announcement served to intensify a global trade war that threatens to stoke inflation and stall growth.<\/p>\n

US stock markets experienced significant declines following the announcement, with the Nasdaq dropping over 4%. Economists and business leaders warned of potential cost increases for American consumers and businesses. Leaders from affected countries expressed confusion and concern. The European Union signalled potential retaliatory measures, and nations like the UK and New Zealand questioned the justifications for the tariffs.<\/p>\n

\u201cThe main effect was on the Asian markets, but we saw US equity sold off sharply in all industries: tech, auto, materials, even US treasury yields declined,\u201d senior market analyst Farah Mourad said, speaking on this week\u2019s Asia-Pacific Report on Radio Islam International.<\/p>\n

The country-specific tariffs will be effective April 9, 2025 and include a 34% on Chinese goods, 20% on EU goods, 24% on Japanese goods, 10% on UK goods, 46% on goods from Vietnam, 32% on those from Taiwan, 26% on Indian goods, and 25% on all foreign-made automobiles. Canada and Mexico are notably exempt from these tariffs.<\/p>\n

President Trump cited longstanding trade imbalances and unfair practices, including currency manipulation and value-added taxes by other countries, as the impetus for these measures. He declared a national economic emergency to implement the tariffs, aiming to protect US sovereignty and strengthen national and economic security. \u200b<\/p>\n

Gold expected to continue upward trajectory, while Bitcoin declined<\/strong><\/p>\n

Gold prices climbed to fresh record highs early in the year when it broke through the $2\u00a0900 for the first time in February, and the precious metal is expected to continue its upward trend. \u200bFollowing President Donald Trump’s announcement of new tariffs yesterday, gold prices experienced a significant surge as investors sought safe-haven assets amid escalating economic uncertainties. Gold futures reached a record high, with April contracts closing at $3139.90 per troy ounce, marking a 19% increase for the year. Spot gold prices also climbed to nearly $3 160 per ounce.<\/p>\n

This upward trend in gold prices reflects heightened investor concerns over potential economic instability and the possibility of stagflation\u2014simultaneous inflation and stagnation\u2014stemming from the newly imposed tariffs. Analysts anticipate continued central bank accumulation of gold reserves as a hedge against these uncertainties.<\/p>\n

\u201cWe\u2019re talking about combination of geopolitical uncertainty. So gold is reacting as a safe haven,\u201d Mourad said.<\/p>\n

Following Trump\u2019s announcement, the cryptocurrency market experienced notable volatility. Bitcoin (BTC), the leading digital asset, declined by approximately 5,2%, dropping from nearly $88 000 to just over $83 000 shortly after the announcement. As of April 3, 2025, BTC is trading at $83 654.00, reflecting a 1,13% decrease from the previous close.<\/p>\n

\u200bOther major cryptocurrencies, such as Ethereum (ETH) and XRP, also faced decline.<\/p>\n

The market’s reaction is attributed to heightened investor concerns over potential economic instability and recession fears stemming from the tariff implementations. This uncertainty has led investors to shift towards traditional safe-haven assets, such as gold, impacting the appeal of cryptocurrencies. \u200b<\/p>\n

Analysts have drawn parallels between the current tariff measures and the Smoot-Hawley Tariff Act of the 1930s, which exacerbated the Great Depression through retaliatory trade wars. They caution that such economic policies could adversely affect both traditional and digital asset markets. \u200b<\/p>\n

In summary, the cryptocurrency market has exhibited sensitivity to recent geopolitical developments, with significant price movements following the tariff announcements.<\/p>\n

Mourad noted, \u201cThe main idea of crypto assets and currencies is to be an independent form of payment; decentralised; far away from any possible trade war; weaponising currencies in the trade war. So yes, volatility will remain, but seeing how crypto will emerge pose a tariff war and how it will [provide] an alternative – that\u2019s the ultimate test for crypto assets at this time.\u201d<\/p>\n

Listen <\/strong>to the Asia Pacific Report<\/a> on Sabaahul Muslim with Moulana Habib Bobat.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sameera Casmod | sameerac@radioislam.co.za 3 April 2025 | 10:47 CAT 3-minute read Impact of Trump\u2019s new global import tariff announcement on markets President Donald Trump announced on Wednesday that a 10% tariff will be imposed on most goods imported into the United States that will be effective on April 5, 2025. Additionally, dozens of countries […]<\/p>\n","protected":false},"author":30,"featured_media":90718,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[28,4997],"tags":[],"class_list":["post-96716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-world"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/radioislam.org.za\/a\/wp-content\/uploads\/2024\/08\/Asia-Pacific-Report.jpg?fit=2268%2C2268&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pc0QIf-p9W","jetpack_likes_enabled":true,"publishpress_future_action":{"enabled":false,"date":"2026-04-16 07:29:25","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts\/96716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/comments?post=96716"}],"version-history":[{"count":0,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts\/96716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/media\/90718"}],"wp:attachment":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/media?parent=96716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/categories?post=96716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/tags?post=96716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}