Markets tumble after Trump threatens to dramatically increase China tariffs
Wall Street set for a fall after president says trade talks are going ‘too slowly’ and threatens to more than double tariffs
Global financial markets have been sent into a tailspin after Donald Trump risked jeopardising delicate trade talks with China by unexpectedly saying he would raise tariffs further on Chinese goods this week.
Stocks in China fell 6% on Monday morning as investors in Asia Pacific were caught off guard by the US president’s tweets and the alarm intensified as reports indicated that the government in Beijing could pull out of this week’s scheduled talks.