Asian stocks plunged again during Wednesday’s trading session after President Donald Trump’s latest batch of sanctions on China came into force.
Asian stocks plunged again during Wednesday’s trading session after President Donald Trump’s latest batch of sanctions on China came into force, helping wipe off Tuesday’s limited gains and compounding a turbulent week for the world’s key indexes.
Trump’s new measures increased the cumulative rate of tariffs on Chinese goods to 104% — a move met with more condemnation in Beijing, where officials warned that China is ready to fight an extended trade war if forced to do so.
The latest tariffs came into force with key Asian markets already open.
