Threat by Trump administration to slap 10% duties on $200bn of imports sparks protests by Beijing

Global investors were rattled on Wednesday after a threat by the Trump administration to slap 10% duties on $200bn (£151bn) of imports sparked protests by Beijing and brought an all-out trade war a step closer.

Stock markets headed lower in the US, Asia and Europe as the US warned that it would press ahead with new tariffs and China promised to “fight back as usual” with “firm and forceful measures” if they are enacted.

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