Trade War: Asian markets fell down as US could impose tariffs

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Asian markets have seen a negative trend after the trade war report that the United States is looking to impose tariff on Chinese imports.

As the threats of trade war are emerging, Asian stock markets including Shanghai and Hong Kong fell down.

It added to skittishness across trading floors. However, there are several issues that are creating impact such as the Italy´s budget standoff with the EU, slowing growth, geopolitical tensions, Brexit, and rising US interest rates.

Hong Kong stock market fell 0.9% and Shanghai fell 0.7% after the reports that the United States is planning more tariffs on China if talks with Chinese President Xi Jinping next month are unsuccessful.

Earlier, China said that they will retaliate against any measures, putting the world´s top two economies on course for an all-out trade war. However, with $250 billion already being targeted, the move would mean all China’s shipments to the US are taxed.

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