Asia-Pacific markets set to open higher as investors brush off Trump's tariff hike to 15%

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Asia-Pacific markets were set to open higher Monday, brushing aside concerns after U.S. President Donald Trump announced over the weekend that he would increase global tariffs to 15% from 10%.

The move came on the heels of a Supreme Court decision striking down a broad swath of the president’s trade agenda enacted under the International Emergency Economic Powers Act of 1977, or IEEPA.

That said, U.S. trading partners are not off the hook, said Rystad Energy’s chief economist Claudio Galimberti.

“While the Supreme Court’s ruling invalidates a large share of existing tariffs and weakens the ability to target individual countries, it does not dismantle the broader tariff framework,” he wrote in a note following the announcement.