The escalating trade dispute between the US and China and Trump's undiplomatic appearance at the NATO summit in Brussels led to a return of risk aversion and falling prices on the European and American stock markets. In Asia, the weaker yen pushed the trade dispute into the background. With the US government's newly announced punitive tariffs of 10% on Chinese goods worth USD 20bn, half of all imports from China would now be subject to special duties. US tariffs could enter into force at the end of August. China's government announced necessary countermeasures in case of entry into force.
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