Shanghai/Tokyo — Asian stocks wobbled on Friday, as Washington slapped tariffs on Chinese imports, a move many investors fear could be the start of a full-scale trade war between the world’s two largest economies. The US tariffs on more than 800 goods from China worth $34bn took effect just after midnight in Washington, or 4.01am GMT. President Donald Trump has warned that the US may ultimately target more than $500bn worth of Chinese goods, an amount that roughly matches its total imports from China last year. China’s commerce ministry said shortly after the US tariffs took effect that it was forced to retaliate, meaning $34bn worth of imported US goods, including cars and agricultural products, are also subject to 25% tariffs. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1% lower, pulling back from a modest early rise. The index has lost near 9% since June 7. The Shanghai composite index ended morning trade down 0.3%, before the tariffs took effect, and trading...
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