Global markets buckled up for a turbulent session on Monday after U.S. President Donald Trump launched a trade war with sweeping tariffs on Canada, Mexico and China that threaten to undermine economic growth and reignite inflation.

Tariffs on goods imported from the U.S.'s three largest trade partners could upend industries from autos to consumer goods to energy. Executives have been able to deflect question

Robert Lighthizer, who was the U.S. trade representative in President Trump's first administration, says China poses an existential threat to the United States that must be urgently addressed by Washington.

China's government on Sunday denounced the Trump administration's imposition of a long-threatened 10% tariff on Chinese imports while leaving the door open for talks with the U.S. that could avoid a deepening conflict.