Some, including the UK and Australia, had 10 per cent tariff rates under the former rules, while many countries in Asia had higher rates. “From the perspective of most Asian economies, the events of the last few days will lower the effective US tariff rate, at least in the short run,” noted analysts at Goldman Sachs. “China will enjoy the largest decline, 6.6pp by our estimate, followed by several South and Southeast Asian economies.”Euro Stoxx 50 futures and Dax futures both eased 0.5 per cent, while FTSE futures fell 0.2 per cent. The dollar shed 0.4 per cent on the Japanese yen to 154.40, while the euro added 0.3 per cent to $1.1821. Brent fell 1.3 per cent to $70.84 a barrel, while US crude lost 1.3 per cent to $65.61 per barrel.

Source: The Irish Times February 23, 2026 15:02 UTC