Asia-Pacific markets set for higher open as investors weigh possible cutting of U.S. tariffs on China goods

Asia-Pacific markets set for higher open as investors weigh possible cutting of U.S. tariffs on China goods

SINGAPORE — Markets in Asia-Pacific were subdued in early trade on Tuesday, as investors weighed a possible thawing of U.S.-China trade relations as U.S. President floated the idea of tariff cuts on Chinese goods. In Japan, the was down 0.4% in early trading, while the Topix was lower by 0.2%. South Korea's Kospi was down 0.39%. In Australia, the S&P/ASX 200 sat just slightly below the flatline. MSCI's broadest index of Asia-Pacific shares outside Japan was lower by 0.11%. In economic data for the day ahead, Japan is set to report data on its manufacturing activity for May. U.S. markets offered some relief for investors as . During Monday's regular trading session, the Dow jumped 618 points, or nearly 2%, the S&P 500 rose 1.9% and the Nasdaq Composite gained 1.6%. after U.S. President Joe Biden said he was , at a press confidence during his trip in Japan as part of his first Asia tour. As consumer prices heated up, the that it was looking at how those tariffs have contributed to inflation. Those tariffs took effect in 2018 when the Trump administration imposed tariffs on billions of dollars worth of Chinese goods and Beijing retaliated with similar punitive