US stock markets fall as trade war escalates

Stock markets in the United States have fallen sharply in early trading, as investors worry about the US economy and the impact of President Trump's tariffs. Mr Trump has doubled a blanket tariff on goods from China to 20%. The US is now facing retaliation, including new tit-for-tat tariffs from China targeting US farm products that came into effect on Monday. We speak to our China specialist and to our business reporter in New York.

President Zelensky of Ukraine has arrived in Saudi Arabia, ahead of talks between the US and Ukraine that could lead to a peace deal with Russia. We speak to our security correspondent about the situation on the frontline in Ukraine.

Canada's next prime minister, Mark Carney, has vowed to win the trade war against US President Donald Trump, after a landslide victory to replace Justin Trudeau. We speak to Canadians about their expectations.

Israeli negotiators are due in Qatar for fresh talks on extending the ceasefire deal in Gaza. Our correspondent in Jerusalem explains.

Presenter: Mark Lowen.

(Photo: Nasdaq Stock Market opens as Trump threatens with tariffs on various countries, New York, USA - 03 Feb 2025. Credit: SARAH YENESEL/EPA-EFE/REX/Shutterstock)