Donald Trump announced plans to raise tariffs on imports from China at the end of the week
The benchmark Shanghai Composite Index fell 5.58%, or 171.88 points, to 2,906.46, while the Shenzhen Composite Index, which tracks China's second exchange, plummeted 7.38%, or 120.79 points, to 1,515.80.
The warning will throw a shadow over the next round of talks, with a delegation from Beijing due in Washington this week, with Bloomberg News reporting the Chinese side are considering their position. — Donald J. Trump May 5, 2019 The two sides have imposed tariffs on $360 billion in two-way trade since last year. But President Trump and his Chinese counterpart Xi Jinping agreed a truce in December, helping fan a surge across world stock markets for the past four months.
"Trade had been put to the side by many market participants," said Andrew Tilton, chief Asia-Pacific economist at Goldman Sachs.
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