Trade tensions intensify with Donald Trump, allies set for showdown

Investors in Asia appeared little rattled by the talk of war, with stock markets in Japan, China, Australia and South Korea all up in trading on Monday

US President Donald Trump is headed for a showdown with America’s allies at a Group of Seven (G-7) summit this week in Quebec, as the European Union (EU) and Canada have threatened retaliatory measures unless he reverses course on new steel and aluminum levies. 

China, while open to talks to resolve the dispute, is warning it will withdraw commitments it made on trade if the president carries out a separate threat to impose tariffs on the Asian country. While China doesn’t want an escalation in trade tensions, it will defend its core interests, according to a commentary published Monday by the