Global Economic Uncertainty: Industrial Metals Decline Amid Trade Tensions; Sun Pharma to Acquire Checkpoint Therapeutics; South Korea Prepares for US Tariff Consultations

Industrial metals experienced a broad decline as investors navigate uncertainties stemming from the Trump administration's tariffs and indications of economic fragility in China. Chinese inflation data revealed persistent demand weakness amid a prolonged property crisis. President Trump cautioned that the U.S. economy faces a "period of transition" following market disruptions linked to his trade policies. India's Sun Pharmaceutical Industries announced on Monday its acquisition of Checkpoint Therapeutics, a U.S.-based immunotherapy and targeted oncology firm, for up to $355 million. South Korea's acting President Choi Sang-mok stated on Monday that the government will prepare for consultations with the U.S. administration regarding cooperation in the shipbuilding and energy sectors. Choi also instructed authorities to actively communicate with the U.S. about tariff rates and to review non-tariff measures in response to President Trump's reciprocal tariff plan.