Asian shares fell on Tuesday after Trump said he will impose tariffs on an additional $200 billion worth of Chinese imports, in a sharp escalation of the trade conflict between the world’s two biggest economies.
“Tit-for-tat tariff retaliation benefits no country,” Japan’s Economy Minister Toshimitsu Motegi told reporters after a regular cabinet meeting.
Finance Minister Taro Aso said while global trade imbalances must be fixed to avoid another financial crisis, the United States and China must address the problem through dialogue instead of slapping retaliatory tariffs on each other.
“The world’s biggest and second largest economies must hold dialogue appropriately,” Aso told a briefing on Tuesday.
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