The Nikkei 225 Index dropped 2.96% to close at 33,585, while the broader Topix Index fell 2.85% to 2,467 on Friday, giving back gains from the previous session as Japanese stocks tracked Wall Street's steep losses. The decline came amid growing concerns over the economic fallout from the escalating U.S.-China trade war. The White House confirmed that cumulative tariffs on Chinese imports have surged to 145%, intensifying fears of a prolonged trade conflict. Despite President Trump's 90-day tariff reprieve aimed at opening space for negotiations, uncertainty remains high over the outcome of trade talks. Japan, currently facing a 10% U.S. tariff rate, is preparing for discussions with Washington in hopes of reaching a favorable trade agreement. Market heavyweights led the losses, including Mitsubishi UFJ (-3.9%), Sumitomo Mitsui (-4.8%), Toyota Motor (-4.8%), Fast Retailing (-2%), and Sony Group (-7.4%).
Source: Trading Economi
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