Japan intends to closely monitor the impact on its currency of US President Donald Trump’s new tariffs and is worried about the international fallout from the trade imposts, Finance Minister Katsunobu Kato said.

AUD/USD extends sell-off below 0.6100 in Asian session on Monday. The pair suffers from intense risk aversion, led by US President Trump's tariffs on Canada, Mexico and China over the weekend, which fuel global trade war fears. The Aussie weighs Australian Retail Sales and China's PMI data.

Global markets buckled up for a turbulent session Monday after Trump launched a trade war with sweeping tariffs on Canada, Mexico, and China.

Follow the latest news on the tariffs and other Trump administration moves. Leaders for Canada, Mexico, and China, including Justin Trudeau, respond after President Donald Trump imposes tariffs.

President Donald Trump said the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "short term" pain for Americans as global markets reflected concerns the levies could undermine growth and reignite inflation.

Japanese auto stocks fell sharply after new U.S. tariffs against Mexico, Canada and China raised concerns about their U.S. sales of cars made in the North American trading partners and a further escalation in trade conflicts.