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World markets dive as Trump sparks trade, North Korea worries

Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain...
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Trump says ‘trade wars are good and easy to win’.

President Donald Trump spoke out defiantly Friday against global criticism of his plan to impose tariffs on steel and aluminum imports, seeming to welcome the idea of a trade war.
“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win,” Trump wrote in an early morning tweet.
“Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!” the president wrote.
 
“We must protect our country and our workers. Our steel industry is in bad shape. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY!”
After weeks of rumors and counter-rumors about his administration’s intentions, Trump on Thursday announced he would sign off on measures designed to protect US producers next week.
The tariffs — 25 percent on steel and 10 percent on aluminum — cover two materials that are the lifeblood of the construction and manufacturing sectors.
The announcement was greeted with fury within key US trading allies such as Canada, the EU, Australia and Mexico, as well as rival China.
It also caused jitters across global stock markets.

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