Yen weakens as Asian markets reopen to renew turbulence due to tariff

The yen weakened on Tuesday as markets weighed the fallout on global trade from renewed turbulence over U.S. President Donald Trump's tariff regime.



The dollar clawed back losses as China and Japan reopened following holidays and Trump warned countries against retreating from recent trade deals after the US Supreme Court struck down his emergency tariffs.



The ⁠yen dipped after China announced export controls on Japanese companies in a further sign of souring relations.



The Nikkei newspaper said U.S. authorities took the lead in conducting so-called rate checks last month to prop up Japan's currency without a request from Tokyo.



Washington's latest tariff threats are clouding the outlook for global trade.



The Supreme Court ruled on Friday that Trump's use of a 1977 emergency law to impose tariffs exceeded his authority, but hours later the president invoked ​a different law and imposed a new levy on all imports.