Global markets today, July 16 -- Asian markets declined after U.S. President Donald Trump announced on Tuesday that a preliminary trade deal had been reached with Indonesia, under which a 19% tariff would be imposed on Indonesian exports to the United States.

Japan's Nikkei 225 opened flat, while the Topix index dipped 0.11 per cent as of 8:04 p.m. ET on Wednesday, July 16.

South Korea's Kospi dropped 0.5 per cent, and the Kosdaq index slipped 0.56 per cent. Meanwhile, Australia's S&P/ASX 200 fell by 0.82 per cent.

"We will pay no tariffs. So they are giving us access into Indonesia, which we never had. That's probably the biggest part of the deal. And the other part is they are going to pay 19 per cent," US President Donald Trump said...