Asian currencies, stocks whipsaw on Trump’s tariff threat

TOKYO/SHANGHAI/HONG KONG/SINGAPORE — Asian currencies and stocks whipsawed on Tuesday after U.S. President Donald Trump said he could impose tariffs on certain imports.

“We’re thinking in terms of 25% on Mexico and Canada. … I think we’ll do it Feb. 1,” Trump told reporters as he signed executive orders. His comments instantly triggered slides in Asian currencies as tariffs would be inflationary for the U.S. economy.