Business reporters, BBC News
Getty ImagesUS stock markets have tumbled over concerns that President Donald Trump’s tariffs on Canada, Mexico and China will lead to a wider trade war and hurt the economy.
The S&P 500 index, which tracks 500 of the biggest companies in the US, fell for a second day, ending at its lowest level since November when Trump won the election.
The president has followed through on a threat to impose 25% tariffs on imports from Canada and Mexico, and a 20% levy on China.
The move drew swift retaliation, including from Canada, where Prime Minister Justin Trudeau warned Trump his decision to target the US neighbour and close trade partner was a “very dumb thing to do”.
Trump fired back, writing on social media: “Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!”
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