Asian stocks declined on Friday as the outlook for U.S. interest rates remained uncertain and the Trump administration announced a new round of tariff measures, including 100 percent duties on imported branded drugs, 25 percent tariffs on heavy-duty trucks and 50 percent tariffs on kitchen cabinets. All new duties will take effect on October 1.
Following stronger-than-expected economic data released overnight, investors also waited key U.S. inflation readings later in the day for more clues on the outlook for rates.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.