Major economies in Asia were scrambling to safeguard their financial interests as Donald Trump's blanket "reciprocal" duties on dozens of countries came into force on Wednesday.
The US president's tariff hike to its highest in over 100 years has triggered recession fears and wiped out trillions of dollars from the stock market value. The worsening global trade war has been condemned by investors and prompted top economists at JPMorgan and Goldman Sachs to raise the probability of recession.
