Asia-Pacific markets set to fall after Trump announces new tariffs; approves TikTok deal

Asia-Pacific markets were acceptable for a weaker unfastened Friday aft U.S. President Donald Trump announced fresh tariffs connected furniture, dense trucks and pharmaceutical products.

Trump said on Truth Social early Friday that from Oct. 1, room cabinets, bath vanities and associated products volition look a 50% tariff, portion a 30% tariff volition beryllium charged for upholstered furniture. Additionally, dense trucks volition beryllium imposed a 25% levy, portion and "any branded oregon patented Pharmaceutical Product" faces 100% duties.

Overnight successful the U.S., Trump besides signed an executive order approving a connection that would support TikTok live successful the U.S. The transaction values the concern astatine $14 billion, according to Vice President JD Vance.

Under the terms, which China indispensable approve, a caller joint-venture institution volition oversee TikTok's U.S. business, with ByteDance retaining little than a 20% stake.

Futures for Australia's S&P/ASX 200 stood astatine 8,810, somewhat higher than its past adjacent of 8,773.

Japan's Nikkei 225 futures pointed to a weaker unfastened for the marketplace aft the Nikkei deed a grounds adjacent connected Thursday, with the futures declaration successful Chicago astatine 45,425, and its counterpart successful Osaka astatine 45,330 compared to the erstwhile adjacent of 45,754.93.

Hong Kong's Hang Seng index futures were astatine 26,372, little than the HSI's past adjacent of 26,484.68.

Overnight successful the U.S., the pullback successful tech connected Wall Street continued for a 3rd consecutive day, partially owed to rising yields.

The 10-year Treasury yield touched 4.2% after data connected archetypal claims for unemployment insurance came successful little than expected. Artificial quality play Oracle slid 5%, portion Tesla was besides among the day's laggards, falling 4%.

The S&P 500 closed down 0.50% astatine 6,604.72, arsenic did the Nasdaq Composite, which settled astatine 22,384.70. The Dow Jones Industrial Average shed 0.38%, to decorativeness astatine 45,947.32.

—CNBC's Jonathan Varnian, Pia Singh and Sean Conlon contributed to this report.