Shares of Japanese and South Korean car makers and their suppliers led declines in Asia on Monday, as exporters across the region were walloped by U.S. President Donald Trump's introduction of sweeping tariffs on Mexico,

Korea’s KOSPI index fell by 2.5% on Monday, as Trump’s tariff moves could threaten both South Korea’s export-heavy economy, as well as the supply chains of its major manufacturers. Electronics giants Samsung and LG, and automakers Kia and Hyundai, all have manufacturing facilities in Mexico.

TOKYO — Asia's factory activity weakened in January as soft Chinese demand and threats of higher tariffs by US President Donald Trump weighed on business sentiment, private surveys showed on Monday, darkening the outlook for the region's economy.