Asia-Pacific markets mostly fell Tuesday, as investors weighed U.S. President Donald Trump's escalatory rhetoric on tariffs.

Trump reportedly threatened to "200% tariffs or something" on China if it does not export rare-earth magnets to the U.S, while also warning levies on countries that do not remove digital taxes and related regulations .

In another move roiling markets, the U.S. president fired Federal Reserve Governor Lisa Cook late Monday stateside, according to a letter he posted on Truth Social .

The Japanese yen, which is traditionally viewed as a safe asset during times of tumult, gained 0.3% against the dollar at 147.32. The U.S. dollar index , which measures movements of the greenback against six major currencies, fell 0.16% following news of Cook's term

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