US president escalates trade war with China, saying all negotiations will be terminated and additional levies will take effect on Wednesday * Global stock markets tumble over tariff ‘medicine’ * Wall Street falls continue – business live * Which Trump billionaires have lost the most? EU ministers are in Luxembourg to consider the European Union’s response to Trump’s sweeping tariff regime amid continuing market turmoil and heightened fears of a global economic recession. It comes after Trump doubled down on his tariff policy in comments aboard Air Force One overnight. He said Europe “has treated us very, very badly,” and “has taken our leaders for a ride”, and declined to hold talks on changing tariffs “unless they pay us a lot of money on a yearly basis”. He also repeated criticism of Europe for not spending a fair share on Nato. Continue reading...