Gold prices hit an all-time high on Monday, bolstered by safe-haven inflows after U.S. President Donald Trump's tariffs on Canada, China and Mexico added to concerns of inflation that would dent economic growth.

China on Tuesday slapped tariffs on U.S. imports in a swift response to new U.S. duties on Chinese goods, renewing a trade war between the world's top two economies as President Donald Trump sought to punish China for not halting the flow of illicit drugs.

President Trump delayed tariffs on Mexico and Canada, but imposed 10% levies on China, prompting Beijing to retaliate. Follow along for live updates on stocks and markets, including the Dow Jones Industrial Average,

Donald Trump is keeping some of the world’s biggest automakers guessing whether the U.S. president will follow through on threats to slap their vehicles and supply chains with import taxes that could cause hefty vehicle-price spikes for U.

The moves fulfill certain campaign promises but also have roiled stock markets and supply chains, while straining relations with the country’s North American neighbors.

U.S. tariffs of 10% on Chinese imports came into effect on Tuesday, risking a renewed trade war between the world's top two economies as President Donald Trump punishes China for not halting the flow of illicit drugs.

Asian shares are climbing after President Donald Trump said tariffs on Mexico and Canada would be delayed for a month

Canadian Prime Minister Justin Trudeau said Monday in a social media post that the United States had agreed to pause threatened tariffs for “at least 30 days.” The announcement followed two phone calls with President Donald Trump on Monday and came after the United States and Mexico reached a similar agreement.