Trump tariffs live: President threatens new 50% China duties while Asian stocks rebound

Asian markets partly rebounded on Tuesday morning from the previous session's heavy losses, despite US president Donald Trump threatening to impose a further 50 per cent tariff on China . Mr Trump said that Washington will impose an extra 50 per cent levy on top of the existing 54 per cent tariff on Chinese imports if Beijing does not withdraw the 34 per cent tariffs it had imposed on US products last week. If neither side blinks and Mr Trump sticks to his plans, the total new levies could climb to 104 per cent this year on Chinese goods imported into the US.

China 's commerce ministry said Mr Trump was "blackmailing" Beijing. "If the US insists on having its way, China will fight to the end," it said. Japan’s Nikkei 225 nonetheless saw strong gains of 6.



41 per cent during opening trade while the Topix gained 6.81 per cent. In South Korea, the Kospi rose 1.

7 per cent and the small-cap Kosdaq climbed 2.35 per cent. China's Shanghai Composite limped up to 0.

8 per cent. Hong Kong’s Hang Seng Index jumped 3 per cent, recovering some of the massive losses it suffered on Monday when it plunged 13.2 per cent.

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