Asian Stocks Drop as US-China Trade War Escalates

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Asian stock markets tumbled on Monday after a sharp escalation in the US-China trade war rattled investors. US President Donald Trump announced tariff hikes on effectively all Chinese imports to the US. It came after Beijing said it would impose fresh duties and raise tariffs on US imports into China. “The trade war between the US and China has escalated dramatically,” Louis Kuijs, head of Asia Economics at Oxford Economics said.

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