New Delhi, March 14 -- Asian stock markets bounced back from earlier losses following the steep declines seen in the three main US indexes, which were influenced by President Donald Trump's tariff proposals. In another development indicating an escalation in the trade conflict, Trump threatened to impose 200% tariffs on all alcoholic beverages imported from the European Union in response to the bloc's 50% tariff on whiskey. Trump stated that he would remain firm on the larger set of tariffs scheduled to take effect on April 2.

The US equity-index futures rose on Friday as indications emerged that the US would steer clear of a government shutdown, boosting market sentiment.

Japanese shares made up for initial losses, while Australian sto...