Trump Tariffs have become a grim reality for the markets, geopolitics and economies globally"US President Donald Trump announced a 25 per cent tariff on imports from Canada and Mexico and a 10 per cent tariff on Chinese goods.

Asia shares mostly fell in Monday trading as worries grow about President Donald Trump imposing tariffs on key U.S. trading partners. Japan's benchmark Nikkei 225 lost 2.4% in early trading to 38,612.

Asian stocks reliant on exports, ranging from Japanese carmakers to Chinese e-commerce firms, nosedived after US President Donald Trump unleashed his first wave of tariffs, signaling the beginning of a new round of global trade war.

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.

U.S. stock futures were down ahead of those markets opening Monday. Trump on Saturday announced the 25% tariffs on Canadian and Mexican goods, and a 10% tariff on Chinese goods. Canada and Mexico have announced their own tariffs on U.

Asian stocks plunge as Trump’s tariffs spook markets Stock markets in Asia dropped on Monday after US tariffs on China, Canada and Mexico triggered fears of a hit to global growth. Japan's Nikkei index tumbled as much as 2.