India, May 23 -- The Swiss market ended notably lower on Thursday, in line with markets across Europe, due to mounting worries about a protracted trade war between the U.S. and China and its likely impact on the global economy.
U.S. and China trade talks collapsed earlier this month as President Donald Trump followed through on a threat to raise tariffs on $200 billion worth of Chinese goods to 25% from 10%.
The Trump administration also blocked U.S. companies from doing business with Chinese telecom giant Huawei but recently gave the company a 90-day reprieve.
Meanwhile, Chinese Commerce Ministry spokesman Gao Feng said in a weekly briefing that the Trump administration must "show sincerity and correct their wrong actions" if the U.S. w...