Asian markets decline as Trump signals new tariffs on China, Mexico, and Canada

Asian markets declined on Tuesday as Donald Trump announced plans to impose significant tariffs on China, Mexico, and Canada starting on his first day back in office. This announcement raised concerns about a return to aggressive trade policies. The dollar strengthened against several currencies, including the Canadian dollar and the Mexican peso, following Trump's tariff warning. However, the Japanese yen gained value as investors sought safe-haven assets amid rising market tensions. Despite the sell-off in Asia, U.S. markets remained buoyant, with the Dow reaching a new record. Oil prices continued to fall, influenced by ongoing geopolitical tensions in the Middle East.