“This can turn ugly…”
Stocks across Asia-Pacific tumbled, bond prices rose and the yen rallied on Friday in the wake of the Trump administration’s announcement that it would impose tariffs on up to $60bn in annual imports from China.
Beijing hit back on Friday. The Ministry of Commerce said it was planning tariffs on 128 products accounting for around $3bn in US imports, although that reaction was technically in response to earlier steel and aluminium tariffs.
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