Reserve Bank of Australia Governor Bullock said monetary policy cannot resolve the problem of slow productivity growth.

U.S. Trade Representative Greer said on Monday the newly implemented Section 301 tariffs are not expected to create economic effects beyond those already priced in. Greer said President Trump’s tariff increases on roughly 60 trading partners, at about 10% or 12.5%, are similar to prior global tariff actions and therefore may not materially change economic outcomes. She added the set of countries targeted by the new 301 measures is narrower than the earlier broadly applied 10% temporary tariff, but the new duties still cover 99.4% of U.S. imports.

日韩股市低开低走，日经225指数跌幅扩大至3%，跌破63000点，韩国KOSPI指数跌6.5%。