Mumbai, Aug. 1 -- Asian stocks fell on Friday as higher U.S. tariffs kicked in and a private survey showed China's manufacturing activity returned to contractionary territory in July as a result of softening new business growth.

U.S. President Donald Trump on Thursday confirmed imports from most countries will face a minimum tariff rate of 10 percent, while imports from countries with trade surpluses with the U.S. face duties of 15 percent or higher.

The dollar was little changed in Asian trade after posting its best month of the year in July. Oil prices were steady following Trump's threats to impose 100 percent tariffs on countries importing oil from Russia.

Gold dipped below $3,300 per ounce ahead of the U.S. July jobs report due la...