The outlook for emerging Asian currencies is worsening again after US President Donald Trump announced new tariffs on China, curbing optimism that his threats were mainly bargaining ploys.

China is reportedly preparing countermeasures against fresh U.S. import tariffs that are set to take effect on March 4, with American agricultural exports likely to be targeted. “China is studying and formulating relevant countermeasures in response to the U.

China has American agricultural exports in its cross hairs as it prepares countermeasures against fresh U.S. import tariffs, China's state-backed Global Times reported, raising the stakes in an escalating trade war between the world's top two economies.