Chinese, Hong Kong stocks dive on Trump tariffs threat

SHANGHAI: China's key stock indices plunged more 5 per cent on Monday after US President Donald Trump threatened to hike tariffs on Chinese imports, potentially derailing high-level trade talks as they enter their final phase.

The losses were in line with a sell-off across Asia after Trump tweeted a threat to hike tariffs on US$200 billion of Chinese goods at the end of the week.But it casts a shadow over the next round of negotiations set for Washington this week, with Bloomberg News and the Wall Street Journal reporting the Chinese side are now considering delaying those negotiations in response to Trump's threat.The Chinese yuan also suffered on Friday morning, falling by around one per cent to 6.

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Hong Kong, Shanghai: Stocks plunge at open on trade war fears[HONG KONG] Hong Kong stocks tumbled in the first few minutes of trade Monday after Donald Trump warned he would hike tariffs on hundreds of billions of dollars' worth of Chinese goods at the end of the week. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »