World shares are mixed as investors focus on tariffs and earnings
[July 14, 2025] By
ELAINE KURTENBACH
BANGKOK (AP) — World shares were mixed on Monday as investors focused on
tariffs and corporate earnings updates.
An announcement over the weekend by U.S. President Donald Trump that he
plans 30% tariffs on goods from Mexico and the European Union had a
modest immediate impact, as analysts said they expected progress toward
trade deals before an Aug. 1 deadline.
Trump detailed the planned tariffs Saturday in letters posted to his
social media account.
The Mexican peso weakened slightly against the dollar, trading at 18.6
pesos to the dollar.
Chinese shares advanced after the government reported that exports rose
last month as a truce in a tariffs war prompted a surge in orders ahead
of an Aug. 12 deadline for reaching a new trade deal with Washington.
Hong Kong's Hang Seng gained 0.3% to 24,091.45, while the Shanghai
Composite index also was up 0.3%, at 3,519.65.
Tokyo's Nikkei 225 index slipped 0.3% to 39,459.62, while the Kospi in
South Korea jumped 0.8% to 3,202.03.
In Australia, the S&P/ASX 200 edged 0.1% lower to 8,570.40.
Taiwan's benchmark lost 0.6%.
On Friday, a modest pullback for U.S. stocks left major stock indexes on
Wall Street in the red for the week.
The S&P 500 closed 0.3% lower, at 6,259.75, a day after setting a record
high.
The Dow Jones Industrial Average dropped 0.6% to 44,371.51, and the
Nasdaq composite gave up 0.2% to 20,585.53 after drifting between small
gains and losses much of the day. The tech-heavy index was coming off
its own all-time high on Thursday.
The selling capped an uneven week in the market as Wall Street kept an
eye on the Trump administration's rollout of new tariff threats against
trading partners like Canada and looked ahead to the upcoming corporate
earnings reporting season.
Trump said in a letter Thursday that he will raise taxes on many
imported goods from Canada to 35%, deepening the rift between the
longtime North American allies. The letter to Canadian Prime Minister
Mark Carney was an aggressive increase to the top 25% tariff rates that
Trump first imposed in March.
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People walk in front of an electronic stock board showing Japan's
Nikkei index at a securities firm Monday, July 14, 2025, in Tokyo.
(AP Photo/Eugene Hoshiko)
 The administration had initially set
Wednesday as a deadline for countries to make deals with the U.S. or
face heavy increases in tariffs. But with just two trade deals
announced since April, one with the United Kingdom and one with
Vietnam, the window for negotiations has been been extended to Aug.
1.
Trump also floated this week that he would impose
tariffs of as much as 200% on pharmaceutical drugs and place a 50%
tariff on copper imports, matching the rates charged on steel and
aluminum.
The initial rollout of Trump's tariff policies in the spring roiled
financial markets. But they have been relatively stable in recent
weeks, suggesting investors have adjusted to the unpredictability of
his sudden policy shifts.
Markets are set to shift their focus to quarterly earnings over the
next few weeks. JPMorgan Chase, Wells Fargo and Citigroup are among
big banks due to report their results on Tuesday.
Shares in aviation company Red Cat Holdings jumped 26.4% Friday
after Defense Secretary Pete Hegseth issued orders aimed at ramping
up production and deployment of drones.
Bitcoin climbed to another all-time high, rising 3.6% early Monday
to $121,914, according to CoinDesk.
Bitcoin's price has jumped amid bullish momentum across risk assets
and coincides with Nvidia’s surge to a $4 trillion valuation. The
U.S. Congress’ Crypto Week starts Monday. Lawmakers will debate a
series of bills that could define the regulatory framework for the
industry.
In other dealings early Monday, U.S. benchmark crude oil gained 45
cents to $68.90 per barrel. Brent crude, the international standard,
was up 44 cents at $70.80 per barrel.
The dollar slipped to 147.22 Japanese yen from 147.38 yen. The euro
fell to $1.1685 from $1.1692.
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