After China proposed tit-for-tat import taxes and stock markets fell, there are fears Trump’s aggressive tariffs could cause a slowdown

Fears that Donald Trump is embroiling America in a global trade war intensified on Wednesday after China imposed tit-for-tat import taxes on the US and stock markets plunged.

The Dow Jones industrial average dropped and then rallied after markets fell in Europe and Asia on worries of an intensifying trade conflict between the world’s two biggest economies – the latest example of Trump taking his appetite for disruption to the global stage.

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