Trump, Steel and tariffs
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Trump, Xi Jinping and China
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Trump, tariffs and economic
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Asia stock markets trade in red on Monday, followed President Trump's announcement on Friday of plans to raise steel import tariffs from 25% to 50%, effective Wednesday, framing it as a step to reduce reliance on China.
The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his latest threat or if he will put it on hold soon.
President Trump said on Friday that China is violating the "fast deal" it made with the nation to pare back tariffs during negotiations.
The remarks from both sides raise concerns that a trade war could erupt again between the two largest economies.
China said on Monday that U.S. President Donald Trump's accusations that Beijing had violated the consensus reached in Geneva trade talks were "groundless", and promised to take forceful measures to safeguard its interests.
Trump's former ambassador to Vietnam highlighted the main reason China may hesitate to strike a trade deal with the U.S.
President Donald Trump accused China of violating a tariff agreement with the United States in a social media post on May 30, after his Treasury Secretary said negotiations had "stalled."
South Korea's exports fell in May for the first time in four months, as shipments to the United States and China dropped on global trade conflict triggered by U.S. President Donald Trump's sweeping tariffs.