Beijing vows to safeguard its interests after Trump promises steeper tariffs if China doesn’t retract planned countermeasures, as markets brace for further volatility

• Trump threatens additional 50% tariffs on China over retaliatory levies

Hello and welcome to our coverage of the global stock market response to Donald Trump’s trade tariffs following the huge falls on Asian markets yesterday.

Extreme volatility plagued global stock markets on Monday, with Wall Street swinging in and out of the red as Trump defied stark warnings that his worldwide trade assault will wreak widespread economic damage, comparing new US tariffs to medicine.