On Friday, Japan's benchmark Nikkei 225 fell by another 3.5%, Australia's ASX 200 was down more than 2%, and Singapore's Straits Times Index was almost 3% lower. South Korean stocks are also losing ground but that appears to be related to the country's constitutional court upholding the impeachment of President Yoon Suk Yeol.

Markets are facing their worst crisis since the COVID crash after China matched President Donald Trump’s big raise in tariffs following the president's "liberation day" announcement.

Representative Don Bacon is planning to introduce a companion bill to the bipartisan Senate legislation aimed at restoring congressional powers over tariffs.

As stock markets tumble in the aftermath of President Donald Trump's sweeping tariffs, Republicans in Congress were watching with unease and talking of clawing back their power to levy tariffs — but almost none seemed ready to turn their words into action.

Republican U.S. Senator Chuck Grassley introduced a bill on Thursday that would require congressional approval for new tariffs, the day after President Donald Trump unveiled sweeping new taxes on a vast array of imported goods.