By declaring he’d put tariffs on goods from the South American country, the president imperiled a growing influx of foreign investment there.

President Trump delayed tariffs on Mexico and Canada, but imposed 10% levies on China, prompting Beijing to retaliate. Follow along for live updates on stocks and markets, including the Dow Jones Industrial Average,

Trump has also threatened to introduce tariffs - a tax on imports - on goods from Canada and Mexico, but paused these for 30 days after both countries agreed to boost border security. The US president has said tariffs are needed to help the American economy and to "protect" the country from the "major threat of illegal aliens and deadly drugs".