Asian Allies Steel for Trump Tariff Tussle
Stock prices slide for major U.S. military allies and steelmakers Japan, South Korea
SEOUL—President Donald Trump’s planned tariffs on steel and aluminum put America’s leading Asian allies in a tough spot Friday, driving down stock prices and generating last-minute lobbying for a change of heart.
Japan’s Nikkei Stock Average closed Friday down 2.5% and South Korea’s benchmark average was down 0.9% in afternoon trading, with steelmakers falling more. South Korea’s Posco, one of the world’s largest steelmakers, fell more than 3%.
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