US President Donald Trump threatened on Friday to ratchet up his trade war again, pushing for a 50% tariff on European Union goods starting June 1 and warning Apple he may slap a 25% levy on all imported iPhones bought by US consumers.

Hong Kong and Shanghai led a broad sell-off across most Asian markets Monday after Donald Trump threatened to impose tariffs on all Chinese imports, ramping up fears of an all-out trade war between the world's top two economies.