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| Stock markets cautious as Trump signals new tariffs | Stock markets cautious as Trump signals new tariffs |
| (31 minutes later) | |
| Stock markets in the Asia-Pacific region made modest gains on Tuesday after President Donald Trump said he is thinking of imposing new tariffs on Mexico and Canada. | Stock markets in the Asia-Pacific region made modest gains on Tuesday after President Donald Trump said he is thinking of imposing new tariffs on Mexico and Canada. |
| Shares were flat to a little higher after Trump pledged in his inaugural address to bring in a "golden age" for America. | Shares were flat to a little higher after Trump pledged in his inaugural address to bring in a "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. |
| Trump also said new tariffs on China could depend on whether a deal is reached over TikTok's future. If Beijing blocked such an agreement "it would be somewhat of a hostile act", he said. | Trump also said new tariffs on China could depend on whether a deal is reached over TikTok's future. If Beijing blocked such an agreement "it would be somewhat of a hostile act", he said. |
| But he said the US is not yet ready to impose tariffs on all imports into the country. | |
| During the election campaign, Trump pledged a universal tariff of 10% and said he would hit China with a 60% import tax. | |
| He has said tariffs will make Americans richer, although critics say the costs are likely to be passed on to consumers. | He 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, Hong Kong's Hang Seng rose by 1%, Japan's Nikkei 225 was 0.1% higher, South Korea's Kospi was up 0.2% and Australia's ASX 200 gained around 0.6%. | On Tuesday, Hong Kong's Hang Seng rose by 1%, Japan's Nikkei 225 was 0.1% higher, South Korea's Kospi was up 0.2% and Australia's ASX 200 gained 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." |
| Other analysts warned that Trump's return to the White House will reintroduce an element of unpredictability in the markets. | Other analysts warned that Trump's return to the White House will reintroduce an element of unpredictability in the markets. |
| "The first few hours of Trump administration have underscored that policy environment will be dynamic once again and markets should brace for volatility," said Charu Chanana, chief investment strategist at investment bank Saxo. | "The first few hours of Trump administration have underscored that policy environment will be dynamic once again and markets should brace for volatility," said Charu Chanana, chief investment strategist at investment bank Saxo. |
| 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 | 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 | 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 | VIRAL MOMENTS: Carrie Underwood goes a cappella and other moments |
| Trump moves to make 'two genders' and anti-DEI policy official | Trump moves to make 'two genders' and anti-DEI policy official |
| Trump vows to leave Paris climate agreement and 'drill, baby, drill' | Trump vows to leave Paris climate agreement and 'drill, baby, drill' |