📊 Morning Market Update | 09.04.2025 | by NordFX | Coinmonks

Markets are under pressure again as sweeping 104% tariffs on Chinese imports officially take effect today (U.S. Eastern Time).

Hopes for a last-minute move from Beijing have faded — China remains firm in the face of Trump’s aggressive trade policy.

US stock futures are down 2.00%, nearing Monday’s lows.
USD Index down 0.70%,
Gold is shining again, up 1.20% to $3,020/oz.

Asia-Pacific indices are in the red (-1.5% to -3.0%),
but Chinese CFDs are rebounding by 2.0–3.0%.
Note: Cash indices in China are still down 1.5–2.0%.

PBOC has set the lowest yuan rate since 2007, allowing gradual depreciation to cushion the tariff blow.

Trump says the long-awaited tariff on pharma products is “crucial” and inevitable.
He accuses China of manipulating the yuan to stay competitive.

BoJ Governor Ueda remains cautious — Japan is waiting to assess the full impact.
Tokyo prepares for direct talks with U.S. officials.

RBNZ cuts rates by 25 bps to 3.5%, citing rising global uncertainty.
More rate cuts may follow if trade tensions worsen.

South Korea answers back — launching support for its auto sector after the U.S. imposed a 25% vehicle tariff.
Car purchase tax cut from 5% → 3.5% (till mid-2025)
EV subsidies boosted to 30–80% (till year-end).

Fitch Ratings says tariffs might add $800B to U.S. revenues short-term,
but warns of long-term damage: higher costs → weaker spending & investment → slower growth.