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Japan's Manufacturing Resilient Amid Steel Tariff Turmoil

6/2/2025

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Summary

Story summary

In May, Japan's manufacturing sector showed signs of resilience with a PMI of 49.4, signaling a slower contraction. In contrast, South Korean steel stocks plummeted as President Trump revealed plans to double U.S. steel tariffs to 50%. Meanwhile, Australia faced economic uncertainty, with its manufacturing sector shrinking for the first time in three months, registering a PMI of 51.

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Story summary

In May, Japan's manufacturing sector showed signs of resilience with a PMI of 49.4, signaling a slower contraction. In contrast, South Korean steel stocks plummeted as President Trump revealed plans to double U.S. steel tariffs to 50%. Meanwhile, Australia faced economic uncertainty, with its manufacturing sector shrinking for the first time in three months, registering a PMI of 51.