Stocks drop as Trump's Latin American tariffs revive trade angst

SHANGHAI: Asian shares skidded on Tuesday after U.S. President Donald Trump stunned markets with tariffs against Brazil and Argentina, recharging fears about global trade tensions, while weak U.S. factory data added to the investor gloom.

Contrary to his remarks, both Brazil and Argentina have been trying to strengthen their respective currencies against the dollar. "Markets are extremely sensitive to any good or bad news on the U.S.-China dispute front, but also the U.S. relationship with other nations as well," he said.China said on Monday U.S. military ships and aircraft won't be allowed to visit Hong Kong, and also announced sanctions against several U.S. non-government organizations for encouraging protesters to"engage in extremist, violent and criminal acts.

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