Stocks plunged on Wall Street after US President Donald Trump imposed sanctions on Thursday – and that fear rippled into Asia, where markets went on a stomach-churning ride.
China has already warned that it will take "all necessary measures" to defend itself, raising the prospect of a trade war between the world's two biggest economies.
White House says President Donald Trump to announce actions against China for allegedly stealing US technology or pressuring US companies to hand it over. Beijing vows to defend China's interests.
Chinese Commerce Minister Zhong Shan says any trade war with the United States will only bring disaster to the world economy.
A meeting with US President Donald Trump's trade envoy appeared to yield no immediate results for the EU and Japan in the ongoing debate over steal and aluminium tariffs.
US decision to impose tariffs on steel and aluminium imports could raise prices for consumers and potentially put people out of work, businesses say.
US President Donald Trump on Thursday slapped deeply contentious trade tariffs on foreign steel and aluminum, brushing off warnings of a global trade war and protests from European allies and at home.
President Donald Trump says the US "will simply apply a tax" on cars made in Europe if the EU retaliates against the trade penalties he's seeking on imports of steel and aluminium.
Retaliation would only come if EU industry hit by planned US tariffs on steel and aluminium.
US President Trump's planned tariffs on steel and aluminum would distort global trade and cost jobs, Australia's trade minister said, highlighting the risk of retaliatory measures from Asian exporters.
President Donald Trump says the US would impose tariffs of 25 percent on steel imports and 10 percent on imported aluminium next week, as global leaders mulled taking punitive measures.
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