New Delhi, Oct. 11 -- US President Donald Trump on Friday slapped China with an additional 100% tariff, in addition to the existing 30 per cent duties, effective November 1 or sooner. Additionally, the Trump administration will impose export controls on "any and all critical software" from American firms. Trump said the new tariffs are a response to China's new restrictions on rare earth elements.

Experts believe a fresh flare-up of trade tensions between the world's two largest economies is a serious concern for global economic growth and could further deal a blow to riskier asset classes, including equities.

Trump's tariffs will increase inflationary pressures in the country, making the situation even more complex for the US Federal R...