Global Stocks Slip as Trump Tariff Deadline Nears

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Published Jul 4, 2025, 10:12 AM

Global financial markets turned cautious on Friday as investors counted down to U.S. President Donald Trump’s July 9 deadline to impose new import tariffs. The pan-European STOXX 600 slipped 0.4% to 541.61 points, led lower by mining and technology shares, while Frankfurt’s DAX also weakened. Trump told reporters that Washington would begin issuing letters to trading partners specifying tariff rates, heightening uncertainty over whether deals could be struck in time to avert the levies.

In Asia, the Nikkei 225 fell 0.6% to 39,762.20, South Korea’s KOSPI dropped 1.2% to 3,078.31 and Hong Kong’s Hang Seng retreated 0.6% to 23,914.44. Mainland China’s Shanghai Composite managed a 0.4% gain, and Australia’s S&P/ASX 200 and India’s Sensex each inched up 0.1%. Currency markets reflected the wait-and-see mood: the dollar trimmed earlier advances, trading around ¥144.48 against the yen and $1.177 to the euro.

Wall Street remained an outlier, with the S&P 500 closing 0.8% higher to a fresh record after a stronger-than-expected U.S. jobs report. Even so, traders globally are positioning defensively ahead of next week’s deadline, wary that the end of a 90-day pause could usher in higher U.S. tariffs on major trading partners if negotiations falter.

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