The US President has threatened new tariffs on Chinese imports, prompting market turbulence as Washington pressures Beijing to retreat from its retaliatory stance.

Senior officials have dismissed market jitters and insisted on pressing ahead with imposing tariffs despite recession worries, affirming an uncompromising stance on trade measures and sparking investor unease.

A prominent figure remains defiant amid escalating trade tensions, unsettling global markets with fears of a severe downturn and prompting observers to draw parallels with past major economic crises.

Global markets have been rattled by newly imposed duties on goods, with businesses warning of higher costs, possible economic slowdowns, and heightened uncertainty in international trade.