Investing.com-- Most Asian stocks declined on Tuesday after U.S. President-elect Donald Trump threatened to impose additional trade tariffs on China and other countries, ramping up fears of a renewed trade war.
Stock indexes had gained in the previous session, as sentiment was buoyed by Trump's nomination of prominent investor Scott Bessent as Treasury Secretary. Bessent is seen holding a much more moderate view on trade tariffs, and considered by investors as a voice for Wall Street in Washington. UBS analysts said in a Monday note that Chinese fiscal measures were likely to dampen the impact of any potential trade tariffs. Beijing is also expected to impose retaliatory measures against the U.S.
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