A U.S. senior official said tariff measures on goods in transit will take effect at 12:01 a.m. ET on July 28 (12:01 p.m. Beijing time).

Foreign Ministry spokesman Lin Jian said China is closely monitoring Red Sea developments after Yemen’s Houthi armed group announced a maritime embargo on vessels to and from Saudi Arabia and attacked two Saudi oil tankers. China said regional sovereignty and security should be respected, international sea lanes must be jointly protected, and urged relevant parties to exercise restraint, resolve differences through dialogue and avoid escalatory actions to help restore peace and stability in the Gulf region quickly.

South Korea's KOSPI fell as much as 2.00% intraday.