Trump declares a "national emergency" as tariffs devastate Asian stocks, with the Nikkei index plunging 3%, and South Korea convening an emergency meeting..

Trump announced the latest tariff policy as scheduled this morning (3), and the tariffs on several major Asian economies are particularly harsh, and Taiwan, China, Japan, and South Korea are all under great pressure. Affected by this, although Taiwan stocks cannot be clearly observed today due to the Qingming holiday, the Japanese and South Korean stock markets have collapsed, and the cryptocurrency market has also been bloodied. (Summary: Trump's 32% tariff on Taiwan "exempt semiconductors" TSMC ADR still fell more than 6% after hours, and $880 million in agricultural exports were urgent) (Background supplement: Moody's analysis: Trump tariffs will kill "5.5 million jobs"; Plus AI destroys the US economy) US President Trump announced the latest tariff policy this morning (3), setting a benchmark tariff of 10% for the global trading partners of the United States, while imposing higher "reciprocal tariffs" on some countries, affecting more than 180 countries, far exceeding previous market expectations. Among them, tariffs on several major Asian economies are particularly harsh, and Taiwan, China, Japan, and South Korea are all under great pressure: Taiwan imposed an additional 32%; China added 34%; Japan added 24%; South Korea levies an additional 25%. At the same time, Trump also declared in a statement that the United States has entered a national emergency: The US goods trade deficit is large and persistent, which poses a great threat to US national security and the economy. In the light of this threat, which is largely due to the structural imbalances in the domestic economic policies and the global trading system of the major trading partners of the United States, I hereby declare a state of national emergency. @POTUS signs an Executive Order instituting reciprocal tariffs on countries throughout the world. It's LIBERATION DAY in America! pic.twitter.com/p7UnfE617B — Rapid Response 47 (@RapidResponse47) April 2, 2025 Japanese and South Korean stock markets open frustrated Taiwan did not open today due to a series of fake Taiwan stocks, but Japanese, Chinese, South Korean stocks suffered heavy losses after opening this morning, according to Google Finance data: The Nikkei 225 average index opened down sharply, currently down 1,132.15 points and now trading at 34,593 points, down 3.17% Hong Kong's Hang Seng and Shenzhen Composite Index also fell 1.5% The Korea Composite Index (KOSPI) fell less than Japanese stocks, but still fell 0.78% to 2,486 points. Market risk aversion intensified In this context, the Japanese media "NHK" reported that Trump's reciprocal tariffs on Japan were higher than previously expected. Economists worry that this move will not only have an impact on the Japanese economy, but if the situation escalates, it may further hit the global economy, and market risk aversion is increasing. At the same time, South Korean media also reported that Trump's move is tantamount to turning the US-South Korea free trade agreement into waste paper, and the acting president of South Korea has also held an emergency meeting, pointing out that Trump's latest actions have made the global tariff war a reality. Cryptocurrencies washed in blood Trump tariffs have also hit the cryptocurrency market, with bitcoin once pinned to $82,169 this morning, down as much as 3.98% in the past 24 hours; Ethereum, on the other hand, fell as low as $1,781, a decline of 3.92%. According to Coinglass data, more than 160,000 people have liquidated positions across the network in the past 24 hours, with a total amount of about $490 million. Just before the announcement of Trump's tariffs, the cryptocurrency market once rose, and there was a market sell-off quickly after the tariff was released, which can be said to be a double explosion of long and short. Related reports Trump tariff nuclear bomb still has a turnaround? US Treasury Secretary: There will definitely be negotiations, it is recommended that countries do not choose to retaliate Trump is "very hot" to Putin threatened to increase Russian oil tariffs, and then threatened Iran to bomb if it does not reach a nuclear agreement Trump "4/2 Liberation Day" reciprocal tariff countdown, Citibank analyzed three scripts "Trump declared a "national emergency" tariffs bloodbath Asian stocks, the Nikkei index plunged 3%, South Korea held an emergency meeting: . This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".