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Tit-for-tat tariff threats from the United States and China ignited fears that a trade war is beginning between the world’s two largest economies, lowering U.S. stock futures.

The security reasons given by the White House for imposing tariffs on Europe make no sense, the prime minister of Denmark said as he questioned the underlying logic of U.S. trade policy.

China will respond to any tariffs imposed by the U.S. against alleged violations of intellectual property rights with the same proportion, scale and intensity, said its U.S. ambassador Cui Tiankai.

Stock prices opened the second quarter with another sharp decline April 2 as investors grew increasingly worried about the rising U.S. trade dispute with China and a flurry of problems hammering the nation’s marquee technology firms.

The Trump administration is pushing for a preliminary NAFTA deal to announce at a summit in Peru next week, and will host cabinet ministers in Washington to try to achieve a breakthrough, according to three people familiar with the talks.

Here’s one way to assess President Donald Trump’s tariffs on imported steel and aluminum: America’s factories already aren’t feeling so great.

China urged trade talks with the United States to prevent greater damage to relations while saying that previously announced retaliatory measures on American imports took effect April 2.

The head of the WTO warned about the first signs of a trade war involving the U.S. and China that could derail the global economy, as Europe kept alive a threat to join Beijing in pushing back against President Donald Trump.

A top Chinese official warned March 25 that a “trade war” would harm all sides but gave no indication of Beijing’s possible next move in a spiraling dispute with President Donald Trump over steel and technology.

Treasury Secretary Steven Mnuchin said he’s optimistic the U.S. can reach an agreement with China that will avert the need for President Donald Trump to impose tariffs on at least $50 billion of goods from the country.