On Tuesday, shares of Asian automotive companies experienced a notable surge on the markets, following statements from U.S. President Donald Trump regarding the potential removal of tariffs on imported cars and auto parts. This development has garnered attention from analysts and investors alike, as it could significantly impact the broader financial landscape, especially amidst a challenging economic environment.

Thailand has announced a reduction in import tariffs on corn from the United States, a decision expected to have a notable impact on the country’s agricultural sector. Finance Minister Pichai Chunhavajira stated that U.S. corn is more affordable, which could help reduce the cost of animal feed.

The announcement of new tariffs on steel and aluminum imports by President Donald Trump has caused concern globally. As a significant exporter of these metals, Australia seeks to be exempted from the 25% tariffs.