Japan's Nikkei slides as market reacts to Trump's fresh tariff vows

Japan's Nikkei share average fell more than 1% on Tuesday as the market reacted to U.S. President-elect Donald Trump's fresh promises of tariffs.

Trump on Monday said that on his first day in office he would impose a 25% tariff on all products from Mexico and Canada and an additional 10% tariff on goods from China, citing concerns over illegal immigration and trade of illicit drugs.

At 0108 GMT, the Nikkei index was down 1.5% to 38,209.47, while the broader Topix slid 1.3%.


A majority of the Nikkei's 225 constituents were down, with only 41 advancers against 183 decliners.

The largest percentage losses in the index were IHI Corp , which shed 5.6%, followed by Fujikura and Kawasaki Heavy Industries losing 5.5% and 5%, respectively. (Reporting by Brigid Riley; Editing by Sumana Nandy)