Donald Trump’s burgeoning trade war with Colombia might not change the price of coffee at Aussie cafes, but there could be long-term impacts for our economy if China can take advantage, an expert says.

Donald Trump claimed an early victory for a coercive foreign policy based on tariffs and hard power on Sunday after announcing Colombia had backed down in a dispute over migrant repatriation flights.

Societe Generale's Asia equity strategist, Franz Benzimra, outlines China's domestic concerns that he believes will drive market performance in the months to come.

Global equities slid as Chinese startup DeepSeek raised concerns over US dominance in artificial intelligence and a spat between the US and Colombia reinforced worries about weaponization of tariffs.

But there are risks too - coffee prices could rise and nations may be less willing to stop the flow of migrants north.

Asian markets mostly fell Monday on fresh trade fears after Donald Trump's threat to impose huge tariffs on Colombia in retaliation for its refusal to accept deportation flights from the United States.

Good morning. US tech futures plunge as a Chinese AI newcomer threatens to shake things up. Donald Trump briefly proposes tariffs on Colombia. And Elon Musk’s Department of Government Efficiency is now hiring.

U.S. stock futures and Asian shares outside China slumped on Monday as investors weighed the implications of Chinese startup DeepSeek's launch of a free, open-source artificial intelligence model to rival OpenAI's ChatGPT.

The presidents clashed on Sunday after two US deportation flights carrying migrants were refused permission to land in Colombia.

Hours after the president of Colombia refused to allow two U.S. military flights carrying deported Colombian migrants to land in his country, President Donald Trump announced Sunday immediate reprisals against the South American nation: A 25% tariff on all Colombian products — to rise to 50% in a week — and the shutting down of the visa section in the U.

The U.S. will not impose sanctions and tariffs on Colombia after the South American nation agreed to accept deported migrants from the United States, the White House press secretary said in a statement late on Sunday.