Korean Air reported on Friday a fall of 4% in cargo revenue for the second quarter of its financial year, pointing to market volatility stemming from U.S. tariff policies.

Asian markets ended mixed as investors reacted to US tariff threats; Sensex slumps, Hang Seng gains, Nikkei retreats.

Asia-Pacific markets are set to trade mixed on Thursday after U.S. President Donald Trump announced that the U.S. will slap a 50% tariff on Brazilian imports beginning August 1.

The U.S. wants South Korea to join efforts to counter China's growth in shipbuilding via potential cooperation in the sector, a senior official from Seoul's trade ministry said on Friday. "The United States feels a sense of crisis that China's market share in the shipbuilding sector is growing and is tapping Korea as a strategic partner,

The U.S. will impose tariffs of 25% on Japan and South Korea beginning on Aug. 1, President Donald Trump announced on Monday in posts on Truth Social.

On Monday, President Donald Trump announced 25% taxes on products from Japan and South Korea, in addition to the threat of higher potential tariffs on goods from those nations if they raise their tariffs on American goods.

Markets may be underpricing U.S. tariff risks as global trade tensions rise and currencies react. See why investors should prepare for post-July 9 volatility.