JAKARTA – Global stock indices collectively declined as the United States implemented a steep 104% tariff on imports from China. Markets across several countries dropped between 0.33% and 2.75% during local trading hours.

As of Wednesday (9/4) afternoon, Jakarta Composite Index (JCI) was down 0.33% to 5,976.43 points. Dow Jones Industrial Average (DJI) dropped 0.84% to 37,645.59 points, while Hang Seng Index slid 0.55% to 20,016.84 points.

NYSE Composite weakened 1.43%, the Nasdaq Composite fell 2.15% to 15,267.91 points, Strait Times Index in Singapore shed 2.69% to 3,376.06 points, and Australia’s S&P/ASX200 declined 1.80% to 7,375.0 points.

Karolina Leavitt, White House Press Secretary, confirmed the additional 104% tariff on Chinese imports took effect on April 9 US time, following China’s failure to withdraw its retaliatory tariffs by the midnight deadline.

She stated that China had miscalculated by responding with counter-tariffs to the US policy. “The President believes China should make a deal with the United States. It was a mistake for China to retaliate,” she said. (LK/ZH)