US stock futures rise as new tariffs seen targeted

US stock-index futures climbed in early Asia trading on signs that the next round of President Donald Trump’s trade tariffs could be more measured than had previously been suggested.
S&P 500 futures rose, Japanese shares fluctuated between gains and losses in early trade, while Australia’s market fell. The dollar was softer against major peers, while the 10-year US Treasury yield advanced.

Sentiment is improving as the next round of US tariffs due April 2 is poised to be more targeted than the sprawling, fully global effort Trump has otherwise mused about, according to officials familiar with the matter. Still, traders remain on edge with officials in China and Australia warning of widespread shocks to the global economy from US trade policy.

Chinese Premier Li Qiang said the country is prepared for “shocks that exceed expectations” from the looming tariff announcement. Ahead of outlining the nation’s spending plan on Tuesday, Australia’s Treasurer Jim Chalmers warned the impact of the new US administration’s policies will have a “seismic” impact on the global economy.
“We expect media leaks about the new tariff regime, and perhaps public comments from President Trump, to support the US dollar this week,” Commonwealth Bank of Australia strategists led by Joseph Capurso wrote in a note to clients. “We judge market participants have not priced enough bad news for the world economy from the upcoming tariff announcements.”

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Elsewhere, the Canadian dollar was steady in early trading after Prime Minister