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World markets dive as Trump sparks trade, North Korea worries

Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain...
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Japan-US trade surplus edges down as Abe, Trump meet.

Japan’s politically sensitive trade surplus with the US edged down in March, government data showed Wednesday, as the two countries’ leaders held talks over the thorny issue of bilateral trade.
Japan logged a surplus in March of 623.1 billion yen ($5.9 billion) with the US, down 0.2 percent, as imports of American-made cars and aircraft climbed, according to the finance ministry data.
The fresh data comes as Japanese Prime Minister Shinzo Abe and US President Donald Trump thrash out difficulties in their trade relations at a summit in Mar-a-Lago.
Larry Kudlow, Trump’s top economic advisor, has cautioned that while “Japan is a great friend and ally”, there are “certain disagreements with respect to some of the trading issues, we’ll iron those out hopefully”.
To its obvious displeasure, Japan was not on the list of countries exempt from Trump’s announced tariffs on steel and aluminium.
And Trump tweeted on Friday that Japan “has hit us hard on trade for years”.
Japan’s overall trade surplus was 797.3 billion yen in March, up 32.1 percent year-on-year — the second straight monthly surplus after logging a deficit in January.
Exports edged up 2.1 percent due to growth in demand for cars and chip-making equipment, while imports slid 0.6 percent year-on-year.
The yen was on average 6.3 percent higher against the dollar in March compared to the same month a year earlier, the ministry said.
Still, the costs of importing petroleum products and liquefied natural gas increased because of higher prices globally, the ministry said.
Car imports also rose both in costs and volume.

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