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Today, most of the Asian markets traded down due to the reports that Washington is going to announce new tariff plans on Chinese goods, which is going to receive a violent response from Beijing.

The markets of Hong Kong opened normal even after a typhoon hit the city on its way to Guangdong, China’s most populous city while the currencies and bonds slightly moved in Japan.

The broadest index of MSCI outside Japan traded down by 1 percent, which firmed three sessions in terms of gains.

The blue chips of Shanghai fell down in 0.8 percent and Hang Seng lost 0.9 percent whereas S&P 500’s EMini futures were down 0.2 percent.

The U.S. President Donald Trump is going to issue new tariff plans on $200 billion on Chinese goods most probably today as the officials reported. The level of tariffs would be around 10 percent that is below the administration had planned earlier of 25 percent.

It is possible that Beijing is likely to decline the proposed trade talks with the U.S. that is supposed to hold later in this month if the States went on with their new tariff plans. On the other hand, China is going to put restrictions on the export goods that are needed for businesses in the U.S.

The index of dollar was at $94.940 quite firm like earlier after a low of $94.359 last week while the euro went down at $1.1628 from $1.1721 as on the last Friday.

In terms of commodity markets, Gold was at $1194.70 per ounce. The Brent crude shed 4 percent and reached $78.06 each barrel while the U.S. crude was at $68.91 a barrel after losing 8 cents.

Now, the markets are tensed due to the ongoing threats regarding the tariff plans from the United States. These steps are going to affect markets really bad.