Asia markets slumped on Monday after Donald Trump slapped tariffs on Canada, Mexico and China, sparking fears that another bruising ‘America First’ trade war that could hit global growth.

The world's financial markets are in turmoil amid fears over an all-out global trade war after US President Donald Trump imposed blanket tariffs on Canada, Mexico, and China. View on euronews

Investors braced for a potential trade war after Trump imposed tariffs on goods from Canada, Mexico and China and pledged future tariffs on the European Union.

Asia shares are mostly declining as worries grow about President Donald Trump imposing tariffs on key U.S. trading partners

Asia-Pacific markets traded in red on Monday amid fears of a global trade war following U.S. tariff measures, triggering a selloff in risk assets. President Donald Trump imposed a 25% tariff on Canadian and Mexican imports and a 10% tariff on Chinese goods,

Asian markets got an unpleasant return from the holidays as investors digested a week's worth of bad news. Several Asian exchanges were closed for some, if not all, of the past week due to the Lunar New Year holiday,

Investors are bracing for a potential trade war that could hit the earnings of major companies and dent global growth. Canada and Mexico have said that they will hit back with retaliatory tariffs while China promised to respond with "corresponding countermeasures" and vowed to challenge Trump's move at the World Trade Organization.