Trump tariffs come into effect

US President Donald Trump's tariffs on a range of countries officially took effect at midnight on Wednesday.

The newly imposed additional tariffs impact around 60 US trading partners, at rates ranging from 11% to 50%, except for China, whose products are now subject to a 104% tariff.

Asian stock indices saw mixed performances at the start of today’s trading session, with Japanese, South Korean, and Taiwanese stock indices declining, while Chinese stock indices rose.

Also, oil prices dropped nearly 4% at the start of today’s trading, with Brent crude falling to $60.32 a barrel and NYMEX crude retreating to $56.96 a barrel.