Japan’s economy risks taking another hit if US President Donald Trump slaps fresh tariffs on China, sparking a renewed US-China trade war, according the government’s chief economist.

Howard Lutnick, the financier President Trump has picked to lead the Commerce Department, said he favored “across-the-board” tariffs and was grilled about his financial ties in a nomination hearing Wednesday.

China is President Donald Trump's prime target for a trade war — again. But China already put its boxing gloves on. In his first term, Trump slapped high tariffs on a range of Chinese goods. This time,

President Donald Trump’s renewed pledges to slap 25% tariffs on imports from Canada and Mexico on Feb. 1 jolted foreign exchange markets late in the New York trading session, sending currencies from both countries plunging against the US dollar.

Upon returning to office, U.S. President Donald Trump has launched numerous tariff threats. They range from broad ones - a universal tariff on foreign-imported goods - to ones aimed at specific sectors,

Donald Trump's commerce secretary nominee told his US Senate confirmation hearing Wednesday he favors "across-the-board" tariffs targeting countries rather than products, while signaling a hawkish China stance.

Donald Trump has wasted no time in making sweeping changes to US economic policy. On his first day back in the White House, on January 20, he announced a series of executive orders and threats to impose tariffs on key trading partners by February 1.

Donald Trump's commerce secretary nominee told his US Senate confirmation hearing he favors "across-the-board" tariffs while signaling a hawkish China stance.