US President Trump warns China not to retaliate against a hike in tariffs he imposed last week and said that the nation 'will be hurt very badly' if it did not 'make a deal'
US President Donald Trump speaks during a campaign rally in Panama City in Florida, US. May 8, 2019.
China had said it will retaliate after the US raised tariffs on its exports to 25 percent from 10 percent, but had not said how. Trump continued to accuse China of reneging on a trade deal the two countries had been negotiating and threatened the nation with economic pain if the trade war drags on, saying businesses will leave China in droves.
Shares retreated in Asia on Monday after trade talks between the US and China wrapped up without an agreement and with Beijing threatening to retaliate over Trump's latest tariff hike.
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