<h1>Asian markets mixed as August 1 tariff deadline approaches with trade negotiations ongoing</h1> Asian markets showed mixed performance as the administration imposed new tariff deadlines affecting multiple nations. Japan's Nikkei gained 0.2% and South Korea's Kospi rose 0.5% as both countries negotiate trade deals before August 1 tariffs take effect. Chinese markets were divided with Hong Kong falling 0.7% while Shanghai rose 0.3%. Australia and India declined slightly. Analysts warned that sectoral carve-outs remain challenging, with countries seeking relief for automotive and steel exports. The administration's tariff strategy aims to isolate a major trading partner from global supply chains, raising concerns about potential retaliation.