bbc or big baller club Stocks and peso boosted by Trump’s Mexico, Canada tariff delay

bbc or big baller club

People stand in front of an electronic stock board showing Japan’s Nikkei index at a securities firm Tuesday, Feb. 4, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

Hong Kong, China — Asian equities bounced Tuesday, while the Mexican peso and Canadian dollar rallied after Donald Trump said he would delay the imposition of stiff tariffs on imports from the US neighbours, soothing trade war worries for now.

The US president’s comments that he would hold last-minute talks with Chinese counterpart Xi Jinping to pause levies on goods from the world’s number-two economy provided extra optimism.

Article continues after this advertisement

Markets from Japan to New York were sent tumbling Monday after news at the weekend that Trump had signed off 25 percent duties against Mexico and Canada, fanning concerns for the stuttering global economy.

FEATURED STORIES BUSINESS BSP eyes shift away from OTPs to fight fraud BUSINESS Trump halts Canada, Mexico tariffs after last-ditch talks BUSINESS BIZ BUZZ: Sobrepeña eyes deal with Sta. Lucia group

READ: Trump halts Canada, Mexico tariffs after last-ditch talks

However, hours before the tariffs were due to take effect, Trump said he had struck deals with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum on immigration and fentanyl, and would postpone the measures for a month.

online casinos that accept paypalArticle continues after this advertisement

Talks on final deals would continue with both countries, he added.

Article continues after this advertisement

The Republican added that he would hold talks with Beijing “probably in the next 24 hours” to avoid new 10 percent tariffs on Chinese imports.

Article continues after this advertisement

The three countries are the United States’ three biggest trading partners and had warned they would retaliate.

News of the deals saw the Mexican peso surge more than three percent — having tumbled to a three-year low on Monday — while the Canadian dollar rallied more than one percent.

Article continues after this advertisement

Asian stock markets also advanced, with Hong Kong up more than three percent, while Tokyo, Seoul and Manila were all more than one percent higher. Sydney, Singapore, Wellington and Taipei were also in the green.

However, the euro remained under pressure after Trump warned the European Union would be next in the firing line, while he did not rule out tariffs against Britain.

The “pushing back of tariffs on Mexico serves as a reminder of the cycle we have entered: tariff announcements are followed by calls and negotiations, declarations of victory, and then the cycle begins anew”, said IG market analyst Tony Sycamore.

“Ultimately the path leads to higher tariffs, slower growth, higher inflation and less certainty for risk takers and equities.”

The volatile start to February on markets follows their rollercoaster ride last week after China’s DeepSeek unveiled a cheaper artificial intelligence model rivalling those of US tech giants, sparking questions over the vast sums invested in the sector in recent years.

“One thing we can say for sure. Markets are going to remain subject to massive headline risk in coming hours… days… and years,” Ray Attrill at National Australia Bank warned.

Gold spot prices held gains after spiking to a new record high of $2,830.74 on Monday, having retreated from last week’s all-time peak owing to the stronger dollar and as traders sought out the metal as a safe haven from uncertainty.

Key figures around 0230 GMT

Tokyo – Nikkei 225: UP 1.6 percent at 39,140.41 (break)

Hong Kong – Hang Seng Index: UP 3.1 percent at 20,846.94

Shanghai – Composite: Closed for a holiday

Global equities trading has calmed after earlier this week experiencing its most tumultuous days since early August.

US Embassy Economic Section, USAID, UNILAB Foundation, AMDev Alliance Partners, and Teradyne executives are joined by Regional Directors of TESDA, DTI, and DOST and the local government of Lapu-Lapu City at the unveiling of the AMI Marker.

Euro/dollar: UP at $1.0320 from $1.0302 on Monday

Pound/dollar: UP at $1.2419 from $1.2407

Dollar/yen: UP at 155.14 yen from 154.80 yen

Euro/pound: UP at 83.10 pence from 83.03 pence

West Texas Intermediate: DOWN 1.1 percent at $73.36 per barrel

Brent North Sea Crude: DOWN 0.6 percent at $75.50 per barrel

New York – Dow: DOWN 0.3 percent at 44,421.91 (close)

Your subscription could not be saved. Please try again. Your subscription has been successful.

Subscribe to our daily newsletter

SIGN ME UP

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

London – FTSE 100: DOWN 1.0 percent at 8bbc or big baller club,583.56 (close)

ph777 casino READ NEXT A milestone on wheels: Landers Superstore celebrates 8th year ... Restaurant owners warn against fake PWD cards, cite financial ... EDITORS' PICK What is ‘Bayotic Refugia’? Trans artist Isola Tong explores ecological healing Family of police officer killed in DC plane crash arrives in US, assisted by PH Embassy NBA: Amid Luka Doncic buzz, Lakers focus on game vs Clippers Tri-comm probe on fake news online not meant to gag free speech – Barbers Olivia Rodrigo stuns in backless Versace gown at Grammys 2025 Lawyers for Blake Lively, Justin Baldoni get reality check from federal judge MOST READ Surveys put 1Pacman in top tier of preferred partylists Gov’t ends 2024 with P16.05 trillion debt pile Ten things to know about the late Barbie Hsu’s life BSP eyes shift away from OTPs to fight fraud Follow @FMangosingINQ on Twitter --> View comments