Stock markets in the Gulf were mixed early on Wednesday, with U.S. President Donald Trump's duties on steel and aluminium going into effect, marking the latest chapter in a trade war that has rattled global markets.

US stocks were mixed Monday as investors digested President Donald Trump’s doubling of tariffs on America’s steel and aluminum imports while trade tensions with China flare up once again.

Oil prices surged Monday over renewed concerns about Russia's war in Ukraine and relief over OPEC+ production, while stock markets mostly slid as US-China trade tensions resurfaced.

Stock markets and the dollar recoiled Monday after President Donald Trump announced he would double US tariffs on global steel and aluminium, and accused China of violating a deal to

President Trump warns of potential 'economic ruin' if courts do not uphold his massive, unilateral tariffs. In a rare admission, he suggests these tariffs could be counterproductive, especially if foreign retaliatory measures persist.