Donald Trump has threatened to hit China with an additional 50 per cent tariff from Tuesday and vowed to press ahead with a trade war that has triggered a sharp market sell-off and fears of a global recession.
The president’s comments came on a day of acute tumult on global equity markets, as Asian shares tumbled and Wall Street’s blue-chip S&P 500 index swung in a huge range.
Trump on Monday said he would ratchet up levies on China within hours unless Beijing scrapped the retaliatory tariff it announced on US goods last week.
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