Asean Currencies Strengthen as President Postpones Tariff Increase; Trump Targets 50% Electric Vehicle Milestone, Impacting Asian Automakers

Asian stock markets experienced gains on Tuesday, January 21, 2025, following President Donald Trump’s decision to delay a planned increase in tariffs on Chinese imports. This move offered some relief to investors in the region, while Asean currencies also showed signs of strengthening.

In a separate development, Trump set a new ambitious goal for the United States, targeting a 50% electric vehicle market share by 2030. This announcement has had a noticeable impact on Asian automakers and battery producers, with shares in these sectors facing downward pressure due to concerns about potential changes in demand and competition.