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European stocks tumble and sovereign bonds surged on Friday as investors feared President Donald Trump's shock threat of tariffs on Mexico risked tipping the United States into recession while disappointing China data added to the woes.
U.S. President Donald Trump said on Thursday a tariff of 5% would be imposed on all goods coming from Mexico, increasing gradually each month until reaching 25% on Oct. 1, unless Mexico takes immediate action to curb illegal immigration.
Fiat Chrysler Chief Executive Mike Manley sold shares in the car maker for $3.46 million on May 28, the day after the announcement of a merger proposal to French rival Renault, a regulatory filing showed.
China's President Xi Jinping and U.S. President Donald Trump are likely to find it "difficult" to make major progress toward ending their countries' trade war when they meet at a G20 summit in Japan in June, a former top Chinese official said on Friday.
Shanghai wine importer Alex Chen has spent the last 10 days moving all his American wines - from chardonnays to zinfandels - out of warehouses in the city's free trade zone before they are hit with an extra tariff that kicks in on Saturday.
U.S. President Donald Trump, responding to a surge of illegal immigrants across the southern border, vowed on Thursday to impose a tariff on all goods coming from Mexico, starting at 5% and ratcheting much higher until the flow of people ceases.
Shares of major Asian automakers and suppliers tumbled on Friday after U.S. President Donald Trump threatened to slap tariffs on imports from Mexico from next month, potentially upending a decades-old business model of global manufacturers.
Mexican central bank board member Jonathan Heath said on Twitter Thursday night "this is a game changer," after U.S. President Donald Trump vowed to impose a tariff on all goods coming from Mexico if the flow of illegal immigrants across the southern border is not stopped.
U.S. stock futures slid and sovereign bonds surged on Friday as investors feared President Donald Trump's shock threat of tariffs on Mexico risked tipping the United States, and maybe the whole world, into recession.
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