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Asian Stocks Fall Amid US-China Trade Uncertainty

VOA News

   Stock markets in Asia traded down Monday as investors processed the
   latest round of reciprocal tariffs imposed by the United States and
   China.

   The slump hit major markets in Japan, China and Hong Kong.

   China's top trade negotiator Vice Premier Liu He said Monday that China
   is willing to negotiate with the United States to end the ongoing trade
   battle, and that China opposes "the escalation of the trade war."

   His comments follow those Sunday from Trump, who said he had "second
   thoughts" about the rising tariffs the two countries have imposed on
   each other's goods. But the White House quickly clarified that he meant
   that was because he did not raise the taxes even more than he did.

   Last week, before heading to France for the Group of 7 summit of the
   leaders of some of the world's leading economies, Trump boosted tariffs
   on $550 billion worth of Chinese products shipped to the United States
   after Beijing said it would raise tariffs on $75 billion worth of U.S.
   exports to China, which itself was in retaliation to an earlier Trump
   tariff hike.

   On Sunday, as he sat down to a breakfast meeting with new British Prime
   Minister Boris Johnson, a reporter asked Trump whether he regretted the
   tit-for-tat tariff war with China.

   Trump responded, "Yeah, sure. Why not."

   "Might as well,"he said. "Might as well. I have second thoughts about
   everything."

   When asked if he would declare a national emergency to block U.S.
   companies from buying Chinese goods, Trump said, "I have the right to,
   if I want."

   But Trump then claimed that trade talks were going well with China and
   that he planned to walk back some of his recent threats, such as
   seeking to force American companies to leave China.

   News stories from the site of the summit in the Atlantic coastal town
   of Biarritz quickly interpreted Trump's "second thoughts" remark as
   having regrets about boosting tariffs on Chinese exports.

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