Global stocks slump, yen rises as U.S. raises stakes in trade conflict

From reuters.com

U.S. tariffs on an additional $200 billion worth of Chinese goods sent Asian stocks tumbling on Wednesday, with China’s markets leading the declines, as trade tensions between the world’s two biggest economies continued to deteriorate. Washington decided to impose the extra tariffs after efforts to negotiate a solution to the dispute failed to reach an agreement, senior administration officials said on Tuesday. The United States had just imposed tariffs on $34 billion worth of Chinese goods on Friday, drawing immediate retaliatory duties from Beijing on U.S. imports in the first shots of a heated trade war. U.S. President Donald Trump ... (full story)