Asia markets remain mixed as U.S.-China trade war escalates

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  • Asia markets were mixed on Tuesday afternoon as trade tensions between the U.S. and China escalated.
  • On Monday, the White House announced that President Donald Trump will impose 10 percent tariffs on $200 billion worth of Chinese imports, and those duties will rise to 25 percent at the end of the year.
  • The U.S. has already levied tariffs on $50 billion worth of Chinese products and Beijing responded with measures targeting $50 billion on American goods.

In the Greater China markets, markets were in negative territory. Hong Kong's Hang Seng index was down by 0.74 percent as tech giant Tencent slid by 2.13 percent. Over on the mainland, markets reversed their earlier positive streak. The Shanghai composite was 0.12 percent down while the Shenzhen composite slid by 0.345 percent.

Stateside, President Donald Trump will impose 10 percent tariffs on $200 billion worth of Chinese imports, and those duties will rise to 25 percent at the end of the year, according to a Monday announcement. The White House removed about 300 goods from a previously proposed list of affected products, including smart watches, some chemicals and other products such as bicycle helmets and high chairs. Beijing has already warned that it will retaliate against the measures.

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