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

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SHANGHAI -- Asian shares skidded on Tuesday after US President Donald Trump stunned markets with tariffs against Brazil and Argentina, recharging fears about global trade tensions, while weak US facto

ry data added to the investor gloom.

In tweets on Monday, Trump said he would impose tariffs on steel and aluminium imports from Brazil and Argentina, attacking what he saw as both countries' "massive devaluation of their currencies." Steven Daghlian, market analyst at CommSec in Sydney, said while the South American tariffs dominated market worries on Tuesday, China's response to US supporting for anti-government protesters in Hong Kong has also chilled sentiment.

China said on Monday US military ships and aircraft won't be allowed to visit Hong Kong, and also announced sanctions against several US non-government organisations for encouraging protesters to "engage in extremist, violent and criminal acts."

 

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