Asian stocks fell on Friday due to higher U.S. tariffs and China’s manufacturing activity returning to contractionary territory in July. Seoul markets dropped as the government proposed higher taxes. U.S. President Trump confirmed minimum tariff rates of 10 percent and up to 15 percent for countries with trade surpluses. The dollar was stable, oil prices steady. Gold fell ahead of the U.S. July jobs report. Chinese and Japanese markets declined, with Tokyo Electron cutting profit forecast. Seoul stocks had the largest daily loss in four months. Australian and New Zealand markets also ended lower. U.S. stocks fell on economic concerns despite positive earnings from tech giants. President Trump announced a trade deal with South Korea and tariff extensions. Treasury Secretary Bessent expressed confidence in a U.S.-China trade deal. Nasdaq, S&P 500, and Dow ended lower.

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