The Trump administration is discussing a 10% punitive duty on Chinese imports. Trump said the EU also has troubling trade surpluses with the United States.

Markets were cautiously optmistic after Trump took a lighter approach to China on Monday. That sentiment lasted a day.

It follows threats by Trump to levy import taxes of 25% on Mexico and Canada, accusing them of allowing undocumented migrants and drugs into the US.

China and Hong Kong stocks fell on Wednesday after U.S. President Donald Trump hinted at new tariffs on Chinese imports, ending a brief reprieve for the markets.

Gold climbed to its highest intraday level since early November, with traders monitoring the outlook for the global economy as President Donald Trump continued to sketch out his views on trade and immigration policies.

China on Wednesday responded to US President Donald Trump's tariff threats and Beijing was ready to "national interests" in the trade war. Mr Trump has warned he could impose a 10 per cent duty on imports from China by the end of next week.

BEIJING – China vowed on Jan 22 to defend its “national interests” against tariff threats from US President Donald Trump, who warned he could impose a 10 per cent duty on imports from the country by the end of next week.

Iron ore and most base metals fell after US President Donald Trump said that he could hit China with 10% tariffs on all imports, suggesting Feb. 1 as the possible start date.

Chinese stocks opened higher and the yuan strengthened in a cautious start to Tuesday, as U.S. President Donald Trump's inaugural policies suggested he will negotiate rather than immediately impose hefty tariffs on trading partners.