Trump trade war talk spooks emerging stocks

Emerging market stocks fell to two-week lows on Friday, with steelmakers taking a pounding after President Donald Trump said he would impose hefty tariffs on US imports of steel and aluminium, reviving fears of a trade war. Trump said the duties of 25% on steel and 10% on aluminium would be formally announced next week, risking retaliation from key trading partners. Among emerging market exporters, Brazil, South Korea and China are considered the most exposed to the new tariffs.