Trump’s $300bn China tariff threat sends markets into tailspin

Wall Street, Asian markets and oil fall after president’s tweet about placing tariffs on practically all remaining China trade

Donald Trump’s surprise decision to escalate the trade war with tariffs on another $300bn of Chinese goods has sent global financial markets into a tailspin.

After sharp falls on Wall Street in the wake of the US president’s announcement on Twitter on Thursday, Asian share prices plummeted on Friday morning as growing hopes that the world’s two economic superpowers would be able to reach a deal were dashed.

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