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Asian markets plunge as Trump threatens to hike China tariffs

Donald Trump warning took markets by surprise and overshadowed another strong US jobs report. [Photo, courtesy)

President Donald Trump sent Asian markets plunging Monday after threatening to hike tariffs on $200 billion of Chinese goods at the end of the week in a bid to speed up stuttering trade talks between the economic superpowers.

Shanghai plunged more than five percent as it led big losses across the region, with the Chinese yuan also taking a battering after the president threw a spanner into the high-level negotiations, which many observers were expecting to wrap up imminently.

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