Asia Markets: Asian stocks fall on trade fears as Trump says China ‘broke the deal’

Asian markets fell in early trading Thursday as U.S.-China trade tensions rose, with President Donald Trump saying China “broke the deal” and China vowing to retaliate if the U.S. raises tariffs on Friday.

The U.S. is set to raise tariffs on $200 billion of Chinese goods to 25% from 10% on Friday. “You see the tariffs we’re doing? Because they broke the deal. They broke the deal,” Trump said at a rally in Florida on Wednesday night. “They can’t do that, so they’ll be paying.” Still, Trump predicted “it will all work out.”

Beijing will be forced to retaliate if the increases go ahead Friday as planned, China’s Commerce Ministry said Thursday.

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