Here are Deven Choksey's views on trade war

US-China trade war: Beijing hits back at Trump, plans $3 bn reciprocal tariffs on US imports

World stock markets tumbled yesterday on escalating trade war fears after US President Donald Trump imposed huge tariffs on Chinese imports and Beijing unveiled its own measures against American goods.

Trump on March 23 insisted that his tough policies were forcing trading partners to negotiate new trade deals more favorable to the United States.

"If they mark the start of an unravelling of the current rules-based architecture, the US and global economy will be significantly negatively affected", the rating agency said in a statement.

Amid the looming threat of a trade war escalation, the World Trade Organization's Director-General Roberto Azevedo urged the sides to talk, warning that there will be "no winners" in this confrontation. The White House announced sanctions that could affect as much as $60 billion in imports and said Beijing steals or forces foreign companies to hand over technology. That was a response to the tariffs on steel and aluminum imports that Trump announced earlier this month.

The heads of State and Government of the European Union again criticized the measure, considering "the argument of national security is not justified".

Trump's announcement provoked yesterday a free fall in operations of Wall Street.

Peterson says it's hard to move forward on negotiating a farm bill while the country is trying figure out where it stands on trade markets.

US-China trade war: Beijing hits back at Trump, plans $3 bn reciprocal tariffs on US imports
European stocks dive as Trump's trade war frightens investors

Basic metals like copper, aluminum and zinc touched several months minimum, while prices of gold -considered an attractive refuge in times of uncertainty- went up to monthly heights.

Earlier this month the Trump administration ordered tariffs on imported steel and aluminum, and stocks dropped as investors anxious about the possibility of tougher restrictions on global trade and smaller profits for corporations. A second day of big losses pushed US stocks to their worst week in two years. Bank of America lost $1.32, or 4.1 percent, to $30.55 and JPMorgan Chase gave up $4.79, or 4.2 percent, to $109.95. In Beijing, China on Friday warned America not to be "penny wise and pound foolish", as it unveiled plans to impose higher tariffs on 128 USA products worth about $3 billion.

Mr Trump has made good on his election promise to confront China - and reduce the US$500 billion trade deficit between the rival superpowers.

Investors kept buying bonds, sending prices higher and yields lower. The yield on the 10-year Treasury note slipped to 2.82 percent from 2.88 percent. Investors later booked profits to leave the yen up 0.1 percent at 105.19 yen per dollar. China's Shanghai Composite also closed 3.4% lower.

The Canadian dollar closed at 77.78 cents United States, up 0.31 of a U.S. cent following the latest reading on inflation in Canada. The euro rose to $1.2307 from $1.2332.

The May crude contract was up $1.58 cents to US$65.88 per barrel because inventories have been trending down, but also because of USA political movements, he said. Brent crude, used to price global oils, rose 92 cents to $69.30 a barrel in London.

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