U.S. Threat Of Tariff Escalation On China Exports
TRUMP RENEWED THREATS TO RAISE TARIFFS ON CHINESE GOODS OVER THE WEEKEND WHICH SENT FRESH SHIVERS THROUGH ASIAN MARKETS
(CNN) – President Donald Trump sent fresh shivers through Asian markets on Monday; with stocks around the region plunging after his latest threat to further increase tariffs on exports from China.
Trump renewed threats to raise tariffs on Chinese goods over the weekend, even as the United States and China gear up for another round of trade talks starting Wednesday.
China is now considering canceling the talks, the Wall Street Journal reported.
“Markets are concentrating on the possible breakdown in U.S.-Sino trade talks,” Jeffrey Halley, a senior market analyst at Oanda, said in a note.
“With so much of the region’s fortunes closely intertwined with China, we could see a sea of red as regional stock markets open today,” he added.
European stocks have also fallen sharply after president Trump threatened to re-ignite the China trade war.