When Trump shattered calm in global markets with tariff tweets

US President Donald Trump announced Sunday that the United States would raise tariffs on $200 billion of Chinese goods to 25 per cent this week, because trade talks are moving "too slowly".

The two sides have imposed tariffs on USD 360 billion in two-way trade since last year. But Trump and Chinese leader Xi Jinping agreed to a truce in December to refrain from further escalation.

As recently as last week, the US had depicted the trade talks as going well.

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