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Markets grew wary of a prolonged high-rate environment that may erode corporate earnings. The announcement also added to uncertainty, particularly after Trump had previously signaled a softer stance just two days earlier.
Asian Market Implications: Asian markets opened mixed on Thursday, March 27, as investors considered the latest tariff developments.
US Targets China’s Tech and AI Space
On March 26, the US government blacklisted over 50 Chinese tech firms, targeting China’s AI ambitions. Beijing’s response was moderate, urging the US to stop generalizing national security.
The news coincided with China Mobile and Alibaba announcing a partnership focused on AI data centers, cloud computing, and AI-related services.
In the aftermath of Wednesday’s announcement, China’s Vice Premier Ding Xuexiang pledged greater support for the property and stock markets. He also vowed to speed up the advancement of technology self-reliance.
Beijing’s policy support has remained a key factor underpinning sentiment in the Hong Kong and Mainland China markets since Trump’s election win.
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