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| Stock markets cautious as Trump signals new tariffs | Stock markets cautious as Trump signals new tariffs |
| (about 1 hour later) | |
| Stock markets in the Asia-Pacific region gave up early gains after President Donald Trump said he is thinking of imposing new tariffs on Mexico and Canada. | Stock markets in the Asia-Pacific region gave up early gains after President Donald Trump said he is thinking of imposing new tariffs on Mexico and Canada. |
| Shares opened higher after Trump pledged in his inaugural address to bring in a new "golden age" for America. | Shares opened higher after Trump pledged in his inaugural address to bring in a new "golden age" for America. |
| He has promised an ambitious agenda - including trade reforms, lower taxes and cuts to government regulations - which has the potential to boost company profits. | He has promised an ambitious agenda - including trade reforms, lower taxes and cuts to government regulations - which has the potential to boost company profits. |
| But some economists have warned that the measures may also raise inflation, which in turn could force the Federal Reserve to increase interest rates. | But some economists have warned that the measures may also raise inflation, which in turn could force the Federal Reserve to increase interest rates. |
| "We're thinking in terms of 25 percent on Mexico and Canada, because they're allowing vast numbers of people -- Canada's a very bad abuser also -- vast numbers of people to come in, and fentanyl to come in," Trump said in the Oval Office. | "We're thinking in terms of 25 percent on Mexico and Canada, because they're allowing vast numbers of people -- Canada's a very bad abuser also -- vast numbers of people to come in, and fentanyl to come in," Trump said in the Oval Office. |
| During the election campaign, he also pledged tariffs of 10% on all imports into the US and said he would hit China with a 60% import tax. | During the election campaign, he also pledged tariffs of 10% on all imports into the US and said he would hit China with a 60% import tax. |
| Trump has said tariffs will make Americans richer, although critics say the costs are likely to be passed on to consumers. | Trump has said tariffs will make Americans richer, although critics say the costs are likely to be passed on to consumers. |
| The President has also said he would create an "External Revenue Service" to collect all tariffs, duties and revenues from foreign sources. | The President has also said he would create an "External Revenue Service" to collect all tariffs, duties and revenues from foreign sources. |
| On Tuesday morning, Japan's Nikkei 225 index was 0.1% higher, South Korea's Kospi was down 0.1% and Australia's ASX 200 rose by around 0.6%. | |
| Meanwhile, the dollar regained some ground against some other major currencies, including the pound and the euro. | Meanwhile, the dollar regained some ground against some other major currencies, including the pound and the euro. |
| "Market sentiment was dented during the signing of executive orders by President Trump in the Oval Office," said Tim Waterer, chief market analyst at financial services firm KCM Trade. | "Market sentiment was dented during the signing of executive orders by President Trump in the Oval Office," said Tim Waterer, chief market analyst at financial services firm KCM Trade. |
| "Investors heard more explicit details regarding the Trump tariff agenda, which sullied the market mood somewhat." | "Investors heard more explicit details regarding the Trump tariff agenda, which sullied the market mood somewhat." |
| US markets were closed on Monday for the Martin Luther King Jr Day holiday. | US markets were closed on Monday for the Martin Luther King Jr Day holiday. |
| LIVE: Follow BBC's live coverage | LIVE: Follow BBC's live coverage |
| ANALYSIS: The promise and peril of Trump's speech | |
| IN PICTURES: Key moments of the inauguration | IN PICTURES: Key moments of the inauguration |
| WATCH: The new president's day so far | WATCH: The new president's day so far |
| EXPLAINED: What Trump is doing on day one | |
| FASHION: Melania's striking hat and other eye-catching looks | FASHION: Melania's striking hat and other eye-catching looks |
| VIRAL MOMENTS: Carrie Underwood goes a cappella and other moments | |
| Trump moves to make 'two genders' and anti-DEI policy official | |
| Trump vows to leave Paris climate agreement and 'drill, baby, drill' |